Africa Wealthiest Man, Aliko Dangote is selling petrol at a rate which is 65naira cheaper per liter, in Togo. This is according to fuel importers, who berated the discrepancy in the price
Fuel importers further accused Dangote refinery of selling a litre of petrol to international traders at N65 cheaper than the amount it gives the product to marketers in Nigeria. PUNCH Newspaper has said.
Accorsing to the Depot and Petroleum Product Marketers Association of Nigeria, Petroleum Products Retail Outlet Owners Association of Nigeria, DAPPMAN, the importers allegations have been found to be true. While kicking against the planned slashing of prices on Monday, DAPPMAN in particular said it was a ploy to stifle competition.
Multiple reports have confirmed that Dangote refinery recently announced that it would drop petrol prices from N865 per litre to N841 in Lagos and the South West, and N851 in Abuja, Edo, and Kwara.
INTEGRITY NEWs undertsnads that, this would come alongside the comencement of its direct fuel distribution scheme.
In an interview with Punch Newspaper on Saturday, the DAPPMAN Executive Secretary, Olufemi Adewole, that members of the group bought Dangote’s petrol from international traders in Lome, Togo, at prices lower than what was offered locally by the refinery.
Adewole said importers had made efforts to buy petrol from the Dangote refinery, but the price was higher, adding that sometimes, it could be better to import the product.
In a seperate interview, Adewole told Sunday PUNCH that Alhaji Aliko Dangote once said he would crash prices whenever importers brought in fuel cargoes into Nigeria.
“So, anytime our cargoes are coming, we expect him to reduce the price. He may give a different reason for the reduction,” he said.
“Dangote is selling to international traders at N65 lower than what he offers in Nigeria, or how is it possible for some of our members to buy from someone who bought from Dangote?
“Dangote sells to international traders at N65 cheaper than what he is selling to us. In some instances, we were able to buy from those people and still bring it to Nigeria. They will take the product to Lomé, claiming that they are buying large quantities.
“I have collated the volume of the products needed by DAPPMAN and sent to Dangote twice, yet he is not giving us products. What else does he want us to do? Even if he would give it to us, it would be with conditions that would not be profitable. Is that business?” he said.