Dangote Refinery has alleged that an international trading company recently acquired a depot for blending and selling substandard products in Nigeria.
“At the same time, an international trading company has recently hired a depot facility next to the Dangote Refinery, with the objective of using it to blend substandard products that will be dumped into the market to compete with Dangote Refinery’s higher quality production.
“This is detrimental to the growth of domestic refining in Nigeria. We should point out that it is not unusual for countries to protect their domestic industries in order to provide jobs and grow the economy. For example, the US and Europe have had to impose high tariffs on EVs and microchips in order to protect their domestic industries,” Dangote Refinery said in a statement released by the company’s Group Chief Branding and Communications Officer, Anthony Chiejina, on Sunday.
The statement comes after the Independent Petroleum Marketers Association of Nigeria, IPMAN, and the Petroleum Retail Outlet Owners Association of Nigeria, PETROAN, had complained about the Dangote refinery’s pricing strategy.
However, the refinery insisted that its rates are competitive and in line with international standards.
Dangote Refinery further accused those saying they are importing PMS cheaper of importing substandard and low-quality products.