Dangote Slams Pinnacle Oil, Warns Against Undermining Nigeria’s Energy Sector
By Patience Ikpeme
Dangote Petroleum Refinery and Petrochemicals has issued a stern warning to Pinnacle Oil and Gas Limited, urging the company to refrain from using deregulation as a pretext for importing substandard petroleum products or compromising Nigeria’s national interests.
The refinery’s statement comes in response to comments made by Robert Dickerman, CEO of Pinnacle Oil and Gas Limited, regarding the importation and blending of petroleum products in a purportedly “deregulated commodity market.” Dangote Petroleum Refinery contends that Dickerman’s argument for deregulation cannot overshadow the serious implications of his actions, which it alleges threaten both the integrity of Nigeria’s energy sector and the well-being of its citizens.
While expressing support for deregulation and industrialization, Dangote emphasized that such support must be grounded in a commitment to sustainable economic growth and the protection of the Nigerian people from exploitation. The refinery underscored that the health and safety of Nigerians should never be compromised in the pursuit of profit.
Drawing parallels to the United States, Dangote noted that Dickerman, as an American, should be well-versed in the strategies employed by his home country to protect its industries. The refinery cited examples of U.S. protectionist measures, such as restrictions on Chinese imports, as evidence of a nation prioritizing national economic interests over short-term gains.
Dangote further questioned Pinnacle Oil’s decision to lease its tank farms to a company without a retail presence in Nigeria, raising concerns about the strategic intent behind such a move, especially considering the proximity of the farms to Dangote’s refinery. The refinery expressed vigilance regarding coordinated efforts to undermine its operations, drawing parallels to the historical decline of the Port Harcourt, Kaduna, and Warri refineries.
Dangote Petroleum Refinery called upon the Nigerian government, patriotic citizens, and local businesses to defend the country’s sovereignty and economic independence. The company emphasized the importance of fostering industrialization and preventing Nigeria from becoming a dumping ground for inferior products.
The refinery reiterated its commitment to a strong, self-sufficient energy sector and expressed support for healthy competition. It also welcomed the upcoming commissioning of the four state-owned refineries, which it believes will further strengthen Nigeria’s position as a regional refining hub.
