Business

PETROAN Demands Transparency: Dangote Refinery’s Petrol Pricing Under Fire!

Published by Tope Fakinlede on October 11th, 2024.

PETROAN Demands Transparency: Dangote Refinery’s Petrol Pricing Under Fire!

Billy Gillis-Harris, President of the Petroleum Products Retail Outlets Association of Nigeria (PETROAN), has urged Dangote Refinery to adopt a more transparent approach regarding petrol pricing. He emphasized the importance of involving stakeholders in the pricing process.

The Dangote Refinery, owned by the Dangote Group and led by prominent businessman Aliko Dangote, has faced criticism for its lack of clarity surrounding fuel prices. In a recent interview on Channels TV, Gillis-Harris expressed concerns over the refinery’s secrecy, stating, “As of now, I have no idea what Dangote’s pricing structure is. For a major player in the market, this is concerning, especially as retail outlets like ours should be informed about pricing inputs.”

He pointed out that while the Nigerian National Petroleum Company Limited (NNPC) provides a pricing template, it fails to disclose the specific contributions from Dangote Refinery.

“We encourage Dangote to improve communication with stakeholders and seek valuable input from all parties involved, including retail outlet owners and consumers. Transparency is essential, even for a private business,” he added.

Gillis-Harris acknowledged the pride associated with having such a facility in Nigeria but insisted that clearer information on pricing is needed. “I cannot confirm whether Dangote has raised or lowered prices because we have no information on that front.”

He noted that while the refinery is forthcoming about diesel prices, the same cannot be said for Premium Motor Spirit (PMS), or petrol. “We know the diesel prices, as they are shared with us, but I currently lack any information regarding PMS pricing,” he

concluded.