
The Crude Oil Refiners Association of Nigeria (CORAN) has voiced strong opposition to petroleum marketers' decision to import Premium Motor Spirit (PMS), commonly known as petrol, despite the availability of locally refined petrol from the Dangote Refinery.
Eche Idoko, the Publicity Secretary of CORAN, expressed concerns over the quality of imported petrol, alleging that some of it is substandard and blended in countries like Malta or Togo. "So I would assure you this regime will pay them way better than the regime of importing petroleum products, where they sell to us, substandard products blended in Malta or Togo and imported into our country," Idoko stated.
This controversy follows the Nigerian National Petroleum Company's (NNPCL) announcement of a new price list for its retail outlets nationwide after lifting petrol from the Dangote Refinery.
The NNPCL had initially priced the petrol at N898 per liter, but the Dangote Refinery disagreed with this pricing. Consequently, the NNPCL adjusted the prices, which now range between N950 to N1,019.22 per liter depending on the location.
The move by marketers to consider importing petrol comes amid dissatisfaction with the current price regime set by the Dangote Refinery. Reacting to this, Idoko called for backward integration and assured that fears of Dangote becoming a monopoly were unfounded.
"The fear marketers are having is that Dangote will become a monopoly, but that has been taken care of by Dangote subscribing to our association. With the Petroleum Industry Act in place and all the agencies in play, there is no way that Dangote can become a monopoly," he said.
Adding another layer to the situation, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has mandated that all imported petrol must undergo three quality tests before being allowed for sale in the country.
George Ene-Ita, the spokesperson for NMDPRA, emphasized that while marketers with import licenses are free to import PMS, the products must meet stringent quality standards.
Aliko Dangote, President of the Dangote Group, had earlier in May 2024, stated that the commencement of his refinery's operations would put an end to fuel importation in Nigeria.
However, the current scenario indicates ongoing tensions and regulatory measures within Nigeria's petroleum market, highlighting the complexities involved in balancing local production and importation.
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