Dangote Petroleum Refinery has accused members of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) of requesting a subsidy worth N1.505 trillion annually to align their depot prices with the refinery’s gantry prices.
In a statement issued by its management, the refinery said the demand, if accepted, would either force the company to absorb the cost or pass the burden on Nigerians.
“Based on daily consumption volumes of 40 million litres of Premium Motor Spirit (PMS) and 15 million litres of Automotive Gas Oil (AGO), this amounts to an additional annual cost of N1.505 trillion (N1,505,625,000,000), which they effectively asked the refinery to absorb or pass on to Nigerians,” the statement read.
The refinery said marketers specifically demanded a discount of N70 per litre in coastal freight, NIMASA, NPA, and other associated costs, as well as N5 per litre for pumping products into vessels to transport to depots in Apapa.
Dangote Refinery insisted it would neither raise its gantry price nor pay any subsidy, stressing that the subsidy practice in the past only defrauded the Federal Government.
The company added that DAPPMAN and other marketers were free to lift products directly from its gantry to benefit from its logistics-free initiative.
The statement further revealed that between June and September, the refinery exported 3,229,881 metric tonnes of PMS, AGO, and aviation fuel, while marketers imported 3,687,828 metric tonnes within the same period, describing the action as economic dumping.
It assured that the refinery maintains strong ties with relevant government agencies and remains committed to Nigeria’s growth and development.
