Daily lens Report (Business)
The Dangote Petroleum Refinery has accused the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) of pressuring it to raise petrol and diesel prices by ₦75 per litre, a move that could push pump prices to as high as ₦950 for Premium Motor Spirit (PMS) and ₦1,090 for diesel in some parts of the country.
In a statement, the refinery said DAPPMAN’s request stems from its insistence on using coastal logistics, which would add ₦75 per litre to product costs. Based on Nigeria’s daily consumption of 40 million litres of PMS and 15 million litres of Automotive Gas Oil (AGO), this would translate to an additional ₦1.5 trillion annually—costs DAPPMAN allegedly wants the refinery to absorb and transfer to Nigerians.
“We have no intention of raising our gantry price or paying a subsidy of over ₦1.5 trillion. That practice defrauded the Federal Government for years. Marketers are free to lift products directly from our gantry and enjoy our logistics-free model,” the refinery declared.
Dangote Refinery further alleged that its refusal to comply with DAPPMAN’s demand is the real reason behind recent attacks and criticisms targeted at its operations. It stressed that it has adequate capacity to meet domestic demand, consistently maintaining 500 million litres of refined products in stock each month.
Between June and September, the refinery exported 3.2 million metric tonnes of PMS, AGO, and aviation fuel. By contrast, marketers imported 3.6 million metric tonnes within the same period—an act the refinery described as “dumping” that undermines the economy and harms Nigerians.
Reaffirming its support for President Bola Ahmed Tinubu’s reform agenda, the refinery highlighted its role in stabilising the Naira, cushioning the impact of subsidy removal, positioning Nigeria as a refining hub, boosting foreign exchange earnings, and creating jobs.
It also maintained that it would not bow to threats or ultimatums from marketers. “Any aggrieved party is free to seek redress through legal channels. We stand ready to defend our position through all legitimate means,” the refinery stated.
The company reiterated its commitment to working with government agencies and patriotic stakeholders while holding institutions accountable when necessary.
