Dangote Speaks on Selling Petrol Cheaper To Foreign Traders- Ekohotblog

Dangote rejects claims of cheaper petrol sales to foreign traders.
Company says Togo pump price doubles Nigeria’s local petrol price.
Accuses marketers of round-tripping, urges direct refinery partnerships.

The Dangote Group has rejected claims by the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) that its refinery sells petrol at cheaper rates to foreign buyers than to Nigerian marketers.

DAPPMAN’s Executive Secretary, Olufemi Adewole, had alleged in an interview that Nigerian marketers purchase Dangote petrol in Lomé, Togo, through international traders at prices ₦65 lower than what is offered locally.

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“Dangote sells to international traders at ₦65 cheaper than what he is selling to us. In some instances, we were able to buy from those people and still bring it to Nigeria,” Adewole stated.

EKO HOT BLOG reports that Reacting in a statement on Monday, Dangote described the allegations as “misleading and inaccurate.” The company questioned the logic of such claims, noting that petrol in Nigeria retails at ₦865 per litre, while the average pump price in Togo is significantly higher at about 680 CFA francs per litre, equivalent to ₦1,826.

“It is incorrect to claim that the price of petrol in Togo is lower than in Nigeria,” the company maintained.

Dangote explained that its refinery has positioned Nigeria as the primary supplier of affordable petrol feedstock in West Africa, even though more than 60 per cent of its crude oil input is imported.

The group further accused some marketers of round-tripping, alleging that they buy petrol in Nigeria, route it through Togo, and then re-import it 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 then is the business rationale behind this practice, especially when considering the cost of transporting products from Lomé to Lagos?” the company queried.

Dangote stressed that marketers who are committed to Nigeria’s domestic market should partner directly with the refinery. It said local partners already benefit from volume-based discounts, credit facilities, and logistics support.

“If their true intention is to serve the Nigerian market, why not join the growing list of local partners of the Dangote refinery?” the statement added.

Dangote Speaks on Selling Petrol Cheaper To Foreign Traders

The company also clarified that price variations may occur depending on whether products are lifted from the Single Point Mooring facility or directly from the gantry. It further warned that for some operators, the business has never been about serving Nigerian consumers but about exploiting arbitrage opportunities in the region.