Dangote Petroleum Refinery has publicly criticized Pinnacle Oil and Gas Limited for its plans to import and blend petroleum products in Nigeria. The refinery argues that such actions could undermine the country’s efforts to achieve self-sufficiency in the oil and gas sector.
In a statement, Dangote Refinery expressed its support for deregulation but emphasized the need to protect Nigeria’s national interests. The company highlighted the potential negative impact of importing substandard products, which could compromise the quality of fuel and harm consumers.
Dangote Refinery drew parallels between the US government’s protectionist measures and the need for Nigeria to safeguard its domestic industries. The company pointed to instances where the US government has imposed tariffs and restrictions on imports to protect its domestic manufacturing sector.
The refinery also raised concerns about Pinnacle Oil’s strategic intent, questioning the rationale behind leasing tank farms near the Dangote Refinery without a clear retail distribution plan. The company expressed fears that this move could be part of a larger scheme to undermine the refinery’s operations.
Dangote Refinery reiterated its commitment to Nigeria’s economic growth and energy security. The company emphasized the importance of supporting domestic industries and reducing reliance on imported products. It also expressed optimism about the upcoming commissioning of the state-owned refineries, which it believes will further strengthen Nigeria’s refining capacity.
By taking a strong stance against the importation of substandard products, Dangote Refinery is advocating for a more sustainable and self-reliant energy sector in Nigeria. The company’s actions highlight the need for a balanced approach to deregulation, one that promotes both economic growth and consumer protection.
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