Dangote Petroleum Refinery has rejected the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN)’s alleged demand for a ₦1.505 trillion annual subsidy, insisting its products remain at gantry price.
In a statement on Thursday, the refinery said any aggrieved party was free to seek redress through legal channels, without resorting to “so-called seven-day notices.”
“The crux of DAPPMAN’s sustained attacks on Dangote Petroleum Refinery stems from their demand for an annual subsidy of ₦1.505 trillion to enable their members to match the refinery’s gantry prices at their own depots,” the company said.
It explained that the marketers were asking for a ₦70 per litre discount covering coastal freight, NIMASA, NPA and other costs, plus ₦5 per litre for vessel pumping, to transport products from the refinery to their depots in Apapa.
Rejecting the demand, Dangote stated, “We have no intention of increasing our gantry price to accommodate such demands, nor are we willing to pay a subsidy of over ₦1.5 trillion, a practice that historically defrauded the Federal Government for many years.”
The refinery highlighted its production strength, maintaining a monthly closing stock of 500 million litres of refined products and exporting 3.2 million metric tonnes between June and September, while accusing marketers of importing 3.6 million metric tonnes in the same period — an act it described as “dumping” harmful to the economy.
Dangote reaffirmed its support for President Bola Ahmed Tinubu’s reform agenda, pledging continued efforts to stabilise the naira, cushion the effects of fuel subsidy removal, boost foreign exchange earnings, and create jobs.
It concluded by calling for collaboration with “patriotic and responsible stakeholders” to advance Nigeria’s development.
