The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has criticized Dangote Refinery’s decision to sell its products at international market prices, citing the significantly lower cost of production.
According to Dr. Joseph Obele, PETROAN’s National PRO, the cost of production is approximately N600 per liter due to the Nigerian government selling crude oil to Dangote in Naira.
This reduced cost is a result of the government’s efforts to support local refineries and stimulate economic growth.
Obele argued that Dangote should consider selling below market price to alleviate Nigeria’s economic hardships. With the country facing rising inflation and fuel costs, PETROAN believes that Dangote’s pricing strategy will exacerbate the situation.
Meanwhile, the Nigerian National Petroleum Company Limited (NNPCL) has announced it will no longer import fuel, instead purchasing from local refineries, including Dangote.
This move is expected to boost Nigeria’s energy self-sufficiency and reduce reliance on foreign imports.
