The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) announced plans to import premium motor spirit (PMS), or petrol, at a price lower than the current domestic rate. PETROAN's National Public Relations Officer, Dr. Joseph Obele, emphasized the need for competition in Nigeria’s deregulated petroleum market, stating that the group had established a business unit to begin petrol imports by December. PETROAN disputed claims by Dangote Refinery that it plans to import substandard petrol, framing such statements as attempts to maintain market dominance.
Obele argued that healthy competition brings consumers better pricing and value, cautioning that a monopolistic market would prioritize profit over consumer interests. He reiterated PETROAN’s commitment to importing high-quality PMS from trusted international refineries.
Responding to separate allegations of blending substandard products, Pinnacle Oil and Gas Limited, a key player near the Dangote Refinery, denied any involvement. CEO Bob Dickerman stressed the importance of a regulated, open market that includes both local refineries and imports to ensure competitive pricing and product standards.
In contrast, Dangote’s Group Chief Branding and Communications Officer, Anthony Chiejina, defended domestic production, suggesting that protecting local industries, as practiced in the U.S. and Europe, would benefit Nigeria’s economy.
