The Dangote Group has dismissed allegations by the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) that its refinery sells petrol to international buyers at rates lower than those offered to Nigerian marketers.
DAPPMANās Executive Secretary, Olufemi Adewole, had alleged that petrol from the refinery was sold to traders in LomĆ©, Togo, at prices about N65 cheaper per litre than what local marketers pay in Nigeria. He claimed that some members of the association had even resorted to buying from foreign traders and re-importing into Nigeria.
In a statement issued on Monday, the Dangote Group described the allegations as āmisleading and inaccurate.ā The refinery argued that a simple comparison of market prices shows otherwise, noting that āthe average pump price in LomĆ© stands at around 680 CFA francs per litre, equivalent to about N1,826 ā a scenario DAPPMAN and its affiliates appear to be promoting for Nigeria.ā
The company further accused some marketers of round-tripping, alleging that āpetrol produced in Nigeria is being routed through Togo and then brought back into the country at inflated prices.ā Dangote questioned the business logic behind such practices given the billions of naira lost to additional transportation costs.
āIf the true intention is to serve the Nigerian domestic market, why not join the growing list of local partners of the Dangote Refinery?ā the company asked. It stressed that its operations have positioned Nigeria as the hub of affordable petrol feedstock for West Africa.
The refinery maintained that while it remains committed to ensuring steady supply and energy security, certain players in the sector are more interested in exploiting arbitrage opportunities than serving Nigerian consumers.
The dispute underscores growing tension in the downstream oil sector, with DAPPMAN insisting its members face a pricing disadvantage, while Dangote defends its pricing strategy as fair and beneficial to the local economy.
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