Dangote Group accuses Pinnacle Oil of undermining Nigeria’s energy security with off-standard blends
In a bold statement Tuesday, Dangote Petroleum Refinery warned Pinnacle Oil and Gas Limited and other marketers not to exploit deregulation as cover for importing subpar petroleum products, citing risks to Nigeria’s energy sector and consumer welfare. This comes after Pinnacle CEO Robert Dickermaninvoked a “deregulated market” rationale to defend the company’s blending practices, which Dangote claims could jeopardise Nigeria’s refining efforts.
The refinery’s statement underscored a belief that deregulation must serve national development, not private interests. Dangote slammed Pinnacle’s setup of a blending plant near its Lagos facility, suspecting the firm’s intent to introduce inferior petroleum products into the Nigerian market. Though Dickerman refuted these accusations, Dangote insisted that his approach to deregulation was “deceptive” and prioritised profit over public safety.
“Deregulation should not be a licence to flood Nigeria with low-quality imports or exploit national interests,” Dangote stated, reiterating its commitment to Nigeria’s industrial growth and energy security. The refinery accused Dickerman of pleading for a pipeline extension to blend Dangote’s high-quality outputs with Pinnacle’s products—an approach it rejected, calling it a betrayal of Nigerian consumers.
Dangote drew on American examples to stress the importance of protecting national industries, noting how the US safeguards its steel and port infrastructure from foreign influence and restricts imports to support domestic production. The refinery cited President Joe Biden’s resistance to foreign takeover of US Steel and recent tariffs on Chinese goods as evidence that nations prioritise industry integrity over deregulated markets.
“It is puzzling that Dickerman, with his US experience, advocates deregulation to justify off-spec imports into Nigeria,” Dangote stated. The refinery challenged Pinnacle’s leasing of tank farms to firms without retail operations in Nigeria, casting doubt on the intent behind these partnerships given the tanks’ close proximity to its refinery.
Drawing parallels with Nigeria’s past, Dangote cautioned that undermining the refinery could replicate the fate of the country’s defunct Port Harcourt, Kaduna, and Warri refineries. For nearly three decades, it noted, “cartels and their collaborators” have thwarted Nigerian refining initiatives, leaving the country dependent on imports and vulnerable to price hikes.
Calling on the government and citizens to defend Nigeria’s economic independence, Dangote said the time had come to end this “cycle of exploitation” and ensure that local refining serves Nigerians first. It reaffirmed support for a robust, competitive sector, welcoming the upcoming commissioning of NNPCL’s refineries in Kaduna, Warri, and Port Harcourt. “We eagerly anticipate the revival of these facilities, which will establish Nigeria as a refining hub for Africa and debunk any monopoly myths.”
Dangote concluded with a pledge to continue supporting policies that drive innovation and uphold national interests, confident that a self-sufficient energy sector remains key to Nigeria’s growth and stability.
