By Peter Omopo
The Dangote Group has dismissed allegations by the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) that its refinery sells petrol to international traders at prices cheaper than those offered in Nigeria.
DAPPMAN’s Executive Secretary, Olufemi Adewole, claimed in an interview that marketers had purchased petrol from traders in Lomé, Togo—who sourced supplies from Dangote—at rates about ₦65 cheaper per litre than the refinery’s local price. He added that the situation sometimes made importing the product a better option.
However, in a statement on Monday, Dangote described the claims as misleading, insisting that petrol prices in Nigeria remain lower than in Togo.
“It is incorrect to claim that the price of petrol in Togo is lower than in Nigeria. A straightforward check reveals that the average pump price in Lomé stands at approximately 680 CFA francs per litre, equivalent to ₦1,826,” the company said.
The group explained that its refinery has positioned Nigeria as a primary source of affordable fuel for West Africa, even though it imports over 60 per cent of its crude feedstock.
Dangote further alleged that some marketers were engaging in round-tripping—buying petrol produced at the refinery through traders in Togo and re-importing it into Nigeria at inflated prices.
“It is increasingly evident that DAPPMAN and some of its members are disproportionately focused on importation, even admitting to round-tripping. What is the business rationale behind re-importing Nigerian-made fuel through Lomé, when local partners enjoy discounts, credit facilities, and logistics support?” the statement added.
The company clarified that pricing differs between Single Point Mooring (SPM) facilities and gantries, noting that smuggling via sea routes is easier than transporting products through land borders.
Dangote concluded that some operators are more interested in exploiting arbitrage opportunities in West Africa than ensuring affordable domestic supply for Nigerians.
