The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has criticised the N990 price per litre for petrol from the Dangote Refinery, labelling it as “inconsiderate.” PETROAN’s National Public Relations Officer, Dr. Joseph Obele, issued a statement on Monday in Abuja, calling for increased competition to prevent profiteering in the sector.
Obele refuted recent allegations from the Dangote Refinery suggesting that PETROAN intends to import substandard petrol at lower prices. Instead, he emphasised that PETROAN has aligned with foreign refinery partners to import high-quality petrol at competitive rates, aiming to offer more affordable prices by December 2024.
According to Obele, Dangote’s price announcement only came after PETROAN and IPMAN disclosed their plans to sell petrol at a lower rate. He further claimed that Dangote had received preferential foreign exchange concessions during refinery construction, which should have led to more competitive pricing.
PETROAN expressed its commitment to importing premium-grade products, dismissing allegations of substandard imports as an attempt by Dangote Refinery to stifle competition. Obele highlighted President Tinubu’s reformative approach to liberalising the downstream market, stating that competition benefits consumers by ensuring better value.
Background
The pricing dispute between Dangote Refinery and Nigeria’s petroleum marketers has intensified as IPMAN and PETROAN consider selling imported fuel at prices lower than Dangote’s rates. Aliko Dangote, CEO of the refinery, has maintained that only substandard fuel would be priced below their refined products, claiming their prices align with international standard