Dangote Refinery has strongly criticized Pinnacle Oil and Gas for allegedly justifying the importation of substandard petroleum products under the banner of “deregulation.”
On Tuesday, Dangote emphasized that while it supports Nigeria’s shift to a deregulated oil market, this should not allow for unsafe or low-quality fuel imports that could harm the nation.
Dangote’s response follows statements made by Pinnacle Oil’s CEO, Robert Dickerman, who framed the importation of certain petroleum products as acceptable in a free market.
Dangote, however, argued that deregulation should not be used as an excuse to lower standards or endanger public safety. The refinery stated, “Our support for deregulation is rooted in a commitment to sustainable growth and protection for the Nigerian people.”
Dangote also noted that in Dickerman’s home country, the United States, strict protective measures exist to safeguard industries.
It cited recent actions by the U.S. government, including President Joe Biden’s stance against selling U.S. Steel to foreign companies and restrictions on using Chinese cranes at American ports.
Dangote argued, “It is perplexing that Dickerman, with his experience in the U.S. market, would promote practices here that would be unacceptable in his own country.”
The refinery also disclosed that Dickerman had approached them to request a pipeline extension from Dangote’s refinery to Pinnacle’s facilities for blending imported products. Dangote stated, “We categorically rejected his request… because it would be a betrayal of the Nigerian people’s trust. The health and safety of Nigerians cannot—and should not—be compromised for profit.”
Additionally, Dangote raised concerns over Pinnacle’s decision to lease storage facilities to a company without retail outlets in Nigeria, especially since these facilities are close to Dangote’s own refinery. It accused Pinnacle of trying to undermine the local refining industry, comparing this to previous issues that affected refineries in Port Harcourt, Kaduna, and Warri.
The refinery called on the federal government and Nigerians to protect the nation’s refining capacity and economic independence. “The choice we face is between fostering industrialisation or allowing Nigeria to remain a dumping ground for inferior products while exporting jobs,” the statement said. Dangote also expressed support for the government’s efforts to restart the nation’s state-owned refineries, which are expected to be operational soon.
Dangote also affirming its commitment to a self-sufficient Nigerian energy sector, welcoming fair competition, and highlighting the importance of quality standards for Nigeria’s growth.
