An Oil And Gas Expert, Olabode Sowunmi has alleged that during one of the meeting that involves the refiners and the NMPDRA regulator, one importer had expressed anger over Dangote’s reduction of his diesel prices from N12,00 To N800 when his Refinery began it operation.
He stated that the importer had already procured two vessel loads of imported diesel and was on the verge of starting to refill their wells when Dangote slashed the price, creating significant financial concerns. He stated that the importer viewed this price reduction as a deliberate attempt to undermine his business, especially since he had invested billions which could be often backed by loans. He also pointed out that other complaints were lodged with the regulator, who maintains confidentiality in their operations, making it difficult to publicly disclose all details.
He said in an interview with Arise TV From 7:45, ”There was a meeting that was held by all the refiners and the regulator in the Petroleum Industry. As at that time, Dangote had just started producing. There was one of the importers who was angry that Dangote Reduced his diesel price from N1200 to N800. He said that he had brought two vessel load of imported diesel and that it was at the point of just starting to refill into their wells, Dangote reduced the price from 1,200 to N800.
So as far as they are concerned, there was a calculated attempt to take them out of business because basically they have spent so much billions which are also based on the letters of loans and all that. There were complaints that went to the regulator and you know that the regulator operates in an air of confidentiality. So it is not everything that they know that they can bring to the public. So in that meeting, it was feisty and there are concerns raised in there. After that meeting, there were Independent meetings between the regulators and the refiners in this case based on what they needed to do within the Petroleum Industry act.”….Seë_Morë