PETROAN Challenges Dangote’s Bid For Market Dominance

PETROAN Challenges Dangote’s Bid For Market Dominance

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has accused Dangote Refinery of trying to suppress competition in the downstream sector. This claim arises after Dangote Refinery asserted that marketers criticizing its petrol pricing aimed to import cheaper and potentially lower-quality products. In response,……..CONTINUE READING 

Dangote Refinery stated it sells petrol at N990 per liter for trucks and N960 per liter for ship loading, aligning its prices with international market rates. This clarification followed claims by PETROAN and the Independent Petroleum Marketers Association of Nigeria (IPMAN) that they could acquire petrol at lower prices than those offered by Dangote.

In a statement released on Monday by spokesperson Joseph Obele, PETROAN argued that Dangote’s claims regarding substandard imports were merely a tactic to maintain monopoly control. The association emphasized that consumers benefit most in a competitive environment and advocated for fair pricing practices. PETROAN also announced its plans to collaborate with foreign refinery partners to import high-quality petrol at significantly reduced prices compared to current rates in Nigeria, aiming for market entry by December 2024, pending regulatory approvals. Furthermore, PETROAN highlighted the importance of transparency in the privatization process of government-owned refineries to ensure a balanced market that discourages monopolistic practices and encourages competition.