We support deregulation but not importation of off-spec products – Dangote to Pinnacle Oil

Dangote Petroleum Refinery and Petrochemicals has said though it supports deregulation of the market, importing off-spec petroleum products into the country should be discouraged.

The refinery stated this in a statement on Tuesday while responding to remarks by the CEO of Pinnacle Oil and Gas Limited, Robert Dickerman.

The Pinnacle CEO had framed the alleged importation of off-spec products within the context of a “deregulated commodity market.”

But Dangote refinery said deregulation should not be used as justification to import substandard products .

The refinery stated that Dickerman’s argument for a deregulated market could threaten the integrity of the country’s energy sector.

Part of the statement reads, “The Dangote Petroleum Refinery and Petrochemicals Company has long been an advocate for deregulation and industrialization in Nigeria, but our support is rooted in a commitment to the sustainable growth of the country’s economy and the protection of its people from any exploitation.

“Unlike Dickerman’s view, deregulation should not be a licence for the importation and distribution of off-spec products or subversion of national interests.’’

The statement further said that it is perplexing that despite his experience in the U.S. market, Dickerman, was advocating the “importation and blending of petroleum products to Nigeria under the claim of deregulation and a free market.”