{"id":3162,"date":"2024-11-03T21:20:31","date_gmt":"2024-11-03T21:20:31","guid":{"rendered":"https:\/\/panoramanews.com.ng\/?p=3162"},"modified":"2024-11-03T21:20:31","modified_gmt":"2024-11-03T21:20:31","slug":"breaking-at-last-dangote-reveals-price-of-its-petrol-faults-ipman-petroan","status":"publish","type":"post","link":"https:\/\/panoramanews.com.ng\/index.php\/2024\/11\/03\/breaking-at-last-dangote-reveals-price-of-its-petrol-faults-ipman-petroan\/","title":{"rendered":"Breaking: At last, Dangote reveals price of its petrol, faults IPMAN, PETROAN"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-3163\" src=\"https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2024\/11\/download-5-300x168.jpeg\" alt=\"\" width=\"300\" height=\"168\" srcset=\"https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2024\/11\/download-5-300x168.jpeg 300w, https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2024\/11\/download-5.jpeg 332w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<div dir=\"auto\">Breaking: At last, Dangote reveals price of its petrol, faults IPMAN, PETROAN<\/p>\n<div dir=\"auto\"><\/div>\n<\/div>\n<div dir=\"auto\">Dangote Industries Limited on Sunday finally released the price of petrol from its refinery, thereby disproving the claims by the Independent Petroleum Marketers Association of Nigeria, IPMAN and PETROAN that they could import fuel at a cheaper rate\u00a0 than what Dangote refinery is currently offering.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">According to a statement released by Anthony Chiejina, Dangote&#8217;s Chief Branding and Communications\u00a0 Officer, petrol from its refinery is sold to trucks at the rate of \u20a6990 per litre, while it is sold to ships at the rate of \u20a6960 per litre.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">It argued that if IPMAN and PETROAN are importing cheaper than their price, it means that the products are\u00a0 substandard.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-3164\" src=\"https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2024\/11\/Screenshot_20241103-220528-300x296.jpg\" alt=\"\" width=\"300\" height=\"296\" srcset=\"https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2024\/11\/Screenshot_20241103-220528-300x296.jpg 300w, https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2024\/11\/Screenshot_20241103-220528.jpg 666w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>&#8220;If anyone claims they can land PMS at a price cheaper than what we are selling, then they are importing substandard products and conniving with international traders to dump low quality products into the country, without concern for the health of Nigerians or the longevity of their vehicles,&#8221; Dangote said.<\/div>\n<div dir=\"auto\">The refiner said it was unfortunate that the regulator, NMDPRA, does not have laboratory facilities which could be used to detect substandard products when imported into the country,&#8221; the statement read.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;Post deregulation, NNPC set the pace by selling PMS to domestic marketers at N971 per litre for sale into ships and at N990 for sale into trucks.<\/div>\n<div dir=\"auto\">&#8220;This set the benchmark for our pricing, and we have even gone lower to sell at N960 per litre for sale into ships while maintaining N990 per litre for sale into trucks.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;In good faith, and in the interest of the country, we commenced sales at these prices without clarity on the exchange rate that we will use to pay for the crude purchased.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;At the same time, an international trading company has recently hired a depot facility next to the Dangote Refinery, with the objective of using it to blend substandard products that will be dumped into the market to compete with Dangote Refinery&#8217;s higher quality production.&#8221;<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Dangote said this is discouraging to the growth of domestic refining in Nigeria, noting that it is not unusual for countries to protect their domestic industries in order to provide jobs and grow the economy.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;While we continue with our determination to provide affordable, good quality, domestically refined petroleum product in Nigeria, we call on the public to disregard the deliberate disinformation being circulated by agents of people who prefer for us to continue to export jobs and import poverty,&#8221; the company added.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\n<\/div>\n<\/div>\n<div dir=\"auto\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Breaking: At last, Dangote reveals price of its petrol, faults IPMAN, PETROAN Dangote Industries Limited on Sunday finally released the&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3163,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,2],"tags":[366,706],"class_list":["post-3162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy","category-news","tag-dangote-petroleum-refinery-limited","tag-independent-petroleum-marketers-association-of-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Breaking: At last, Dangote reveals price of its petrol, faults IPMAN, PETROAN - Panorama News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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