By Ayomide Otitoju
Dangote Petroleum Refinery has dismissed a request by the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) to raise petrol and diesel prices by ₦75 per litre, warning that such a move would push pump prices to as high as ₦950 for petrol and ₦1,090 for diesel in parts of the country.
In a statement released this week, the refinery explained that while it sells products to marketers at its gantry price, DAPPMAN prefers to take delivery through coastal logistics, a choice that would add ₦75 per litre in costs. Based on national consumption of 40 million litres of petrol and 15 million litres of diesel daily, this would amount to an additional annual cost of about ₦1.5 trillion—an expense the group effectively asked the refinery to absorb and pass on to consumers.
“We have no intention of increasing our gantry price to accommodate such demands, nor are we willing to pay a subsidy of over ₦1.5 trillion, a practice that historically defrauded the Federal Government for many years,” the statement read.
Dangote Petroleum Refinery alleged that its refusal to accept the request is the main reason behind recent criticisms from marketers. It maintained that it has sufficient capacity to meet domestic demand and support exports, noting that it closes each month with 500 million litres of refined products in stock.
Between June and September, the refinery said it exported 3.2 million metric tonnes of petrol, diesel, and aviation fuel, while marketers imported 3.6 million metric tonnes in the same period—a development it described as “dumping” harmful to the Nigerian economy.
Reiterating support for President Bola Ahmed Tinubu’s reform agenda, the refinery said it has helped stabilise the naira, cushion the impact of subsidy removal, position Nigeria as a refining hub, boost foreign exchange earnings, and create jobs.
It added that while it maintains strong working relationships with government agencies, it will hold institutions accountable when necessary.
The refinery also reaffirmed its earlier position published on September 15, stating that any party aggrieved by its comments is free to seek legal redress. “We will not be swayed by threats or so-called seven-day ultimatums and are fully prepared to defend our position through all legitimate means,” it said.
