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Petrol Price Scandal? Dangote Refinery Breaks Silence On Alleged Foreign Discounts
The Dangote Group has strongly denied claims by the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) that its refinery offers petrol at cheaper rates to foreign traders than to Nigerian marketers.....KINDLY READ THE FULL STORY HERE▶
DAPPMAN’s Executive Secretary, Olufemi Adewole, had alleged in an interview with Punch that members of the association purchased Dangote petrol through international traders in Lomé, Togo, at prices about ₦65 lower than what was available locally.
“Dangote sells to international traders at ₦65 cheaper than what he is selling to us. In some cases, we even bought from those traders and still brought it back to Nigeria,” Adewole claimed.
Responding in a statement on Monday, Dangote described the allegation as “misleading and inaccurate.” The company pointed out that while the average pump price in Nigeria is ₦865 per litre, the cost in Togo is significantly higher—around 680 CFA francs per litre (₦1,826).
“It is incorrect to say petrol is cheaper in Togo than in Nigeria. A simple check shows otherwise,” the statement clarified.
The refinery further emphasized that it has positioned Nigeria as the main hub for affordable fuel in West Africa, even though over 60% of the crude oil it refines is imported.
Dangote also accused certain marketers of round-tripping—buying products in Nigeria, diverting them through Togo, and re-importing at inflated rates.
“It is becoming clear that some DAPPMAN members are more interested in importation and arbitrage than in meeting local demand. Why incur extra costs moving products from Lomé to Lagos when you can buy directly from us?” the company queried.
According to Dangote, genuine Nigerian marketers should partner directly with the refinery, where they already enjoy incentives such as bulk discounts, credit facilities, and logistics support.
“If their real focus is the Nigerian market, why not join the list of local partners who are benefitting from high-quality products and favourable terms designed to keep petrol affordable at home?” the statement added.
The company further explained that price variations may occur depending on whether products are lifted from its Single Point Mooring (SPM) facility or directly from the gantry. It maintained, however, that some players in the sector are not genuinely serving Nigerian consumers.
“For certain operators, this business has never been about meeting Nigeria’s fuel needs—it has always been about exploiting arbitrage to triple profits in neighbouring markets,” Dangote stated.
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