The Dangote Petroleum Refinery has restated that it will not increase its gantry price for petroleum products despite mounting pressure from the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN).
In a statement issued Thursday, the company dismissed DAPPMAN’s insistence on adopting coastal logistics, warning that such a move would add at least N75 per litre to consumer costs. The refinery said its decision to maintain current prices aligns with its commitment to shielding Nigerians from unnecessary fuel price hikes.
Dangote explained that DAPPMAN’s opposition stems from its demand for an annual subsidy of N1.505 trillion to enable members to match the refinery’s gantry prices at their depots. The company stressed it has no plans to shoulder such a financial burden or adopt subsidy practices that have historically undermined Nigeria’s petroleum policies.
“We have no intention of increasing our gantry price to accommodate such demands, nor are we willing to pay a subsidy of over N1.5 trillion, a practice that historically defrauded the Federal Government for many years,” the refinery said. It added that marketers are free to lift products directly from its gantry under its logistics-free framework.
The company further noted that it holds a monthly closing stock of 500 million litres of refined products, underscoring its ability to meet domestic demand while also supplying export markets. Between June and September, the refinery exported over 3.2 million metric tonnes of petrol, diesel, and aviation fuel, while marketers imported about 3.6 million metric tonnes, which it described as dumping and harmful to the Nigerian economy.
Dangote reaffirmed support for President Bola Ahmed Tinubu’s reform policies, citing contributions toward stabilising the Naira, cushioning subsidy removal, boosting foreign exchange, and creating jobs.
The refinery emphasized its cooperation with government institutions but warned that it would not succumb to threats, including the seven-day ultimatum issued by DAPPMAN, noting that aggrieved parties are free to seek legal redress.
The statement concluded that the refinery remains committed to Nigeria’s growth and open to partnerships with responsible stakeholders.
