It made me wonder β why is it that our media don't celebrate such good news? Things seem to be gradually reducing in price, and thatβs worth acknowledging.
An honest review of the Tinubu government β Iβve observed something positive that many people or the media hardly talk about. Prices of electronics are actually coming down.This morning, I checked Jumia and noticed that the prices of several items have generally reduced.
Just this evening, I found out that the solar battery a friend bought for β¦1.4 million sometime last year now sells for around β¦900,000 and not only that even the TVs and other electronics prices are coming down.
PRESS STATEMENT
We had lately refrained from engaging in media fights, but we are constrained to respond to the recent misinformation being circulated by IPMAN, PETROAN, and other associations.
Both organisations claim that they can import PMS at lower prices than what is being sold by the Dangote Refinery. We benchmark our prices against international prices, and we believe our prices are competitive relative to the price of imports. If anyone claims they can land PMS at a price cheaper than what we are selling, then they are importing substandard products and conniving with international traders to dump low quality products into the country, without concern for the health of Nigerians or the longevity of their vehicles. Unfortunately, the regulator (NMDPRA) does not even have laboratory facilities which can be used to detect substandard products when imported into the country.
Post deregulation, NNPC set the pace by selling PMS to domestic marketers at N971 per litre for sale into ships and at N990 for sale into trucks. This set the benchmark for our pricing, and we have even gone lower to sell at N960 per litre for sale into ships while maintaining N990 per litre for sale into trucks.
In good faith, and in the interest of the country, we commenced sales at these prices without clarity on the exchange rate that we will use to pay for the crude purchased.
At the same time, an international trading company has recently hired a depot facility next to the Dangote Refinery, with the objective of using it to blend substandard products that will be dumped into the market to compete with Dangote Refinery's higher quality production.
This is detrimental to the growth of domestic refining in Nigeria. We should point out that it is not unusual for countries to protect their domestic industries in order to provide jobs and grow the economy. For example, the US and Europe have had to impose high tariffs on EVs and microchips in order to protect their domestic industries.
While we continue with our determination to provide affordable, good quality, domestically refined petroleum product in Nigeria, we call on the public to disregard the deliberate disinformation being circulated by agents of people who prefer for us to continue to export jobs and import poverty.
Anthony Chiejina
Group Chief Branding and Communications Officer
3rd November, 2024
BREAKING: Canadian Police Arrest Nigerian Woman, Amaka Sunnberger, Who Threatened To Poison Yoruba, Benin People In Viral Video; To Arraign Suspect Monday | Sahara Reporters https://t.co/zYgV39gqrb
The future and goals are deceptive.They appear as final solutions to lifeβs struggles. But theyβre mere junctions in the long run, complex journey weβre into on earth.
@AbiodunSanusi01 If he doesn't have skeleton in his cupboard why didn't he answers EFCC invitation before it turns to arrest. One thing is that most of dis guys bliv dey are above the law