In a pointed statement, Dangote Petroleum Refinery and Petrochemicals has cautioned Pinnacle Oil and Gas Limited, emphasizing that Nigeria’s deregulated oil market should not be used as a pretext for importing and blending substandard petroleum products that undermine national interests.
This message comes in response to recent comments by Robert Dickerman, CEO of Pinnacle Oil, who defended the blending of petroleum products within a deregulated market framework.
Dangote Refinery disputed his rationale, arguing that deregulation should not open the door to compromising the quality of petroleum products or jeopardizing Nigeria’s energy security.
While affirming its support for deregulation and industrialization, Dangote insisted this support is grounded in a commitment to Nigeria’s economic growth and the protection of its people.
“Our advocacy for deregulation is driven by a vision of sustainable growth and protection of the Nigerian people from exploitation.
“Unlike Dickerman’s stance, deregulation should not serve as a licence for importing and distributing substandard products or subverting national interests,” the company stated.
Drawing a contrast, Dangote pointed to how other nations, especially the United States, take decisive measures to protect their domestic industries.
The company highlighted recent protectionist actions by the U.S. government, such as President Joe Biden’s opposition to the sale of U.S. Steel to foreign interests and restrictions on Chinese-made cranes at American ports, which underscore the importance placed on national economic security.
Likewise, the U.S. has imposed significant tariffs on products like electric vehicles and medical equipment from China, prioritizing economic self-reliance.
“It is perplexing that Dickerman, with his experience in the U.S. market, would endorse importing and blending petroleum products in Nigeria on the grounds of deregulation.
“He previously approached us, seeking to extend our pipeline to Pinnacle’s tank farms to blend his imported products with our high-quality supplies, which we rejected outright as a matter of principle and public trust,” Dangote revealed.
The refinery voiced further concerns over Pinnacle’s recent leasing of tank farms to entities without retail operations in Nigeria, especially as the leased facilities are situated close to Dangote’s refinery.
Dangote speculated that these actions are coordinated to undermine its operations, similar to what led to the downfall of Nigeria’s state-owned refineries in Port Harcourt, Kaduna, and Warri.
Appealing to the government, citizens, and businesses to stand up for Nigeria’s sovereignty and economic independence, Dangote urged a focus on industrialization over allowing the country to serve as a dumping ground for inferior imports.
The company expressed frustration over years of sabotage by oil cartels that have kept Nigeria dependent on imports, inhibiting its refining capacity.
“The choice before us is either to foster industrialization or continue as a dumping ground for subpar products that export jobs.
“For three decades, powerful cartels have sabotaged domestic refining efforts, but now is the time to break that cycle and ensure Nigeria’s energy sector serves the people,” the company stated.
Dangote Refinery affirmed its commitment to fostering a robust energy sector that bolsters Nigeria’s economic growth.
It also voiced support for healthy competition that promotes quality and innovation.
Anticipating the commissioning of Nigeria’s four state-owned refineries, Dangote underscored its confidence that such progress would debunk misconceptions of monopoly and elevate Nigeria as a refining hub in Africa.
“At Dangote Petroleum Refinery, our goal is to make Nigeria self-reliant in petroleum production.
“While we welcome competition that drives innovation and quality, we stand firmly against practices that compromise the health and welfare of Nigerians or undermine our economy,” the company declared.
Reiterating its support for NNPCL’s refinery initiatives, Dangote concluded: “We eagerly look forward to the launch of the Kaduna, Warri, and Port Harcourt refineries, as promised by the NNPCL’s Group CEO Mele Kyari.
“This milestone will dispel unfounded rumours of monopoly and position Nigeria as an African refining hub.”
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