DAPPMAN Slams Dangote Refinery For Slashing Petrol Prices

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has criticised the Dangote Refinery implicit its program to trim petrol prices, informing that the determination could destabilise the market.

LEADERSHIP recalls that the backstage refinery precocious announced that from Monday, September 15, petrol would merchantability astatine N841 per litre successful Lagos and the South-West and N851 successful Abuja, Edo, and Kwara, down from N865.

The simplification volition besides coincide with the motorboat of its nonstop substance organisation scheme.

But, successful a connection issued connected Saturday, DAPPMAN Executive Secretary, Olufemi Adewole, said portraying the refinery’s repeated terms cuts arsenic patriotic gestures ignored their timing and interaction connected different marketplace participants.

“Claims that repeated substance terms reductions by the Dangote Refinery are patriotic gestures disregard their timing and marketplace impact. These reductions were often strategically timed erstwhile different importers had progressive cargoes astatine oversea oregon successful tanks, creating terms shocks that undermined contention and imposed fiscal strain connected chap marketplace participants, including the refinery’s ain home customers,” Adewole said.

He further alleged that the refinery offered little prices to planetary buyers portion quoting higher rates to home offtakers, a signifier helium described arsenic contradictory to nationalist claims of prioritising Nigerians.

“Even much concerning is the refinery’s signifier of offering little prices to planetary buyers portion quoting higher rates to section offtakers. This contradicts public-facing claims of prioritising Nigerians and places unnecessary load connected home businesses already operating nether choky margins,” helium added.

On the refinery’s ongoing quality with the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG), Adewole said DAPPMAN was disquieted astir the escalation.

“While the substance whitethorn not straight interest our Association, we are alarmed by the tone, trajectory, and escalation of this issue. Beyond the reputational risks to assorted marketplace participants, we are profoundly acrophobic astir the imaginable interaction this whitethorn person connected mean Nigerians, peculiarly successful a downstream situation inactive stabilising post-deregulation,” helium noted.

Adewole argued that it was misleading to suggest Nigeria’s downstream stableness depended solely connected Dangote Refinery.

“While we invited the Dangote Refinery arsenic a large infrastructure project, its publication has peaked astatine lone 30 to 35 per cent of nationalist demand. The equilibrium continues to beryllium supplied by liable petroleum merchandise marketers, including DAPPMAN members, who import and administer nether strict regulatory oversight by the Nigerian Midstream and Downstream Petroleum Regulatory Authority,” helium said.

According to him, for decades, DAPPMAN marketers person guaranteed substance availability crossed the state by investing successful depots, trucking fleets, retail networks, and logistics, adjacent during periods of forex pressure, subsidy transitions, insecurity, and economical downturns.

“These contributions merit recognition, not erasure. We cull immoderate insinuation that DAPPMAN members woody successful ‘substandard’ petroleum products. All imports are taxable to independent, regulator-accredited laboratory investigating successful accordance with NMDPRA protocols and planetary prime standards,” the connection added.