Dangote Petroleum Refinery and Petrochemicals has cautioned Pinnacle Oil and Gas Limited against using deregulation as an excuse to import and blend off-spec petroleum products, undermining Nigeria’s national interests.
In a statement, Dangote Refinery responded to remarks by Pinnacle Oil’s CEO, Robert Dickerman, who advocated for importing and blending petroleum products under the guise of a deregulated market.
Dangote Refinery emphasized that its support for deregulation and industrialization prioritizes Nigeria’s economic growth and citizen protection.
“Deregulation should not be a license for importing off-spec products or subverting national interests,” the refinery stated. The health and safety of Nigerians should never be compromised for profit.”
Dangote Refinery cited examples from the United States, where protectionist policies prioritize national economic interests.
These include President Joe Biden’s opposition to the sale of U.S. Steel to Japan’s Nippon Steel and tariffs imposed on Chinese goods.
“It’s perplexing that Dickerman, with U.S. market experience, would advocate for importing off-spec products to Nigeria,” Dangote Refinery said.
“We rejected his request to extend our pipeline to their tank farms for blending high-quality products with imported ones, as it would betray Nigerians’ trust.”
The refinery expressed concerns over Pinnacle Oil’s decision to lease tank farms to a company without Nigerian retail outlets, questioning the strategic intent.
Dangote Petroleum Refinery called on the government and patriotic Nigerians to defend the country’s sovereignty and economic independence.
“The choice is between industrialization or allowing Nigeria to remain a dumping ground for inferior products while exporting jobs.”
Reiterating its commitment to self-sufficiency in petroleum production, Dangote Refinery welcomed competition driving innovation and quality.
The company looks forward to the commissioning of Nigeria’s state-owned refineries, as promised by NNPCL.
“We will continue advocating for policies protecting our industries and Nigerians’ well-being,” Dangote Refinery concluded.
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