Deregulation Of The Downstream Oil Sector Is No Excuse To Import Petroleum Products – Dangote

The Dangote Petroleum Refinery has come out to tell oil marketers that the deregulation of the downstream oil sector should not be used as a justification for the importation of off-spec petroleum products.

Dangote recently had his say via a press statement, and Nigerians have been reacting.

According to him, the CEO of Pinnacle Oil and Gas Limited, Robert Dickerman is wrong for setting up a blending plant around its facility in Lagos with the intention of selling substandard petroleum products to Nigerians, and they must be stopped.

He added that their argument for a deregulated market will not prevent the serious implications of their actions, which clearly threatens the integrity of Nigeria’s energy sector and endangers the welfare of its citizens.

His words, “The Dangote Petroleum Refinery and Petrochemicals Company has long been an advocate for deregulation and industrialisation in Nigeria, but our support is rooted in a commitment to the sustainable growth of the country’s economy and the protection of its people from any exploitation.

Unlike Dickerman’s view, deregulation should not be a licence for the importation and distribution of off-spec products or the subversion of national interests

It is therefore perplexing that Dickerman, with all his experience in the US market, would advocate for the importation and blending of petroleum products to Nigeria under the claim of deregulation and a free market.

The fact is that he had deceitfully approached us and pleaded that we extend the pipeline from our refinery to Pinnacle’s tank farms for the purpose of blending our high-quality products with their imported products and selling them to Nigerians.

We categorically rejected his request to extend our pipeline to their tank farms for such devious purposes because it would be a betrayal of the Nigerian people’s trust. The health and safety of Nigerians cannot—and should not—be compromised for profit.

The choice we face is between fostering industrialisation or allowing Nigeria to remain a dumping ground for inferior products while exporting jobs.

For nearly three decades, cartels and their collaborators have sabotaged efforts to develop Nigeria’s refining capacity, keeping the country dependent on imported products. The time has come to end this cycle of exploitation and ensure that Nigeria’s energy sector works for the benefit of its people.

At Dangote Petroleum Refinery, we are committed to ensuring that Nigeria becomes self-reliant in petroleum production, and we welcome competition that drives innovation and quality.

However, we will never allow the continued importation and blending of petroleum products, nor the deliberate destruction of our national economy. We believe that a strong, self-sufficient energy sector is vital to Nigeria’s economic growth, and we will continue to advocate for policies and practices that protect our industries and the well-being of all Nigerians.

We eagerly anticipate the coming on stream of the Kaduna, Warri, and Port Harcourt refineries before the end of this year, as promised by the Group Chief Executive Officer of NNPCL, Mele Kyari. This milestone will not only end all baseless rumours of monopoly but also position Nigeria as a refining hub for petroleum products in Africa.”