Finally, Dangote Speaks on Petrol Pricing From Refinery After Oil Marketers' Claims
- Dangote Refinery has reacted to claims that it is selling petrol at above N1,000 per litre to marketers
- The oil company has labelled the prices promoted by oil marketers as false and inaccurate, dismissing them as fake news
- Oil marketers earlier argued that the refinery’s alleged prices are above the current landing cost of imported petrol
Dave Ibemere, a journalist at Legit.ng, has been reporting on business for over ten years. He has deep knowledge of the Nigerian economy, stock market, and general market trends.
The Dangote Refinery has dismissed as “fake news” allegations that it is selling Premium Motor Spirit (PMS), commonly known as petrol, to marketers at a rate between N1,015 and N1,028 per litre.
This followed oil marketers' claims that the Dangote refinery's petrol prices were higher than the landing costs of imported petrol.
Source: Facebook
An anonymous major marketer quoted in various reports claimed that the refinery sells to oil marketers making bulk purchases at N1,015/litre and small buyers at N1,028/litre.
The marketer was quoted as saying:
“Dangote is selling to bulk buyers at N1, 015/litre, but to marketers who are not buying in bulk, the refinery is selling at N1, 028/litre.”
Vanguard also quoted Joseph Obele, the publicity secretary of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), as claiming that Dangote petrol might be higher because the refinery was processing imported crude oil.
Data released by the Major Energies Marketers Association of Nigeria showed that on Thursday, October 31, the landing cost of diesel was N1,069.97/litre, while that of aviation fuel was put at N1,119.67/litre.
Dangote reacts to petrol pricing
But reacting, Tony Chiejina, the chief corporate communications officer of Dangote Group, dismissed the allegations.
He described the quoted prices by marketers as "fake news".
"It is fake news."
Ghana proposes ECOWAS currency for Dangote petrol
Meanwhile, Legit.ng earlier reported that Ghana hinted that African countries would agree on a common currency to buy Dangote petrol to dampen demand for dollars.
The West African nation also expressed interest in buying petroleum products from the refinery once it is operating at full capacity.
The head of the country's oil regulator said that patronising the Nigerian refinery would cut more expensive exports from Europe.
Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.
PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!
Source: Legit.ng
