The Crude Oil Refiners Association of Nigeria (CORAN) has opposed a proposal by petroleum marketers to import Premium Motor Spirit (petrol) despite the availability of petrol from Dangote Refinery. Eche Idoko, CORAN’s Publicity Secretary, expressed this position in a statement condemning the import plans.
This response comes amid reports that 141 million liters of petrol are being shipped to Nigeria following the full deregulation of the downstream oil sector by the Federal Government. Recently, the Nigerian National Petroleum Company (NNPC) released a new pricing structure for its retail outlets after lifting petrol from Dangote Refinery, with prices ranging from N950 to N1,019.22 per liter, depending on the location.
The situation has sparked a pricing dispute between Dangote Refinery and NNPC, with NNPC claiming it purchased petrol from Dangote at N898 per liter, a statement disputed by the refinery. In light of the current price structure from Dangote, some petrol marketers have expressed dissatisfaction and are exploring the option of importing petrol.
CORAN criticized the quality of some imported petrol, alleging that it is substandard and often blended in Malta or Togo. Idoko argued that local pricing under the current regime would be more beneficial than relying on imported products.
He also addressed concerns about Dangote potentially becoming a monopoly, stating that this issue is mitigated by Dangote’s membership in CORAN and the oversight provided by the Petroleum Industry Act and relevant regulatory agencies.
Furthermore, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced that imported petrol will undergo three tests before being allowed for sale in Nigeria. NMDPRA’s spokesperson confirmed that marketers with import licenses can bring in petrol, but it must pass these tests. Earlier this year, Aliko Dangote, President of Dangote Group, asserted that his refinery’s operations would eliminate the need for fuel imports in Nigeria.
