Dangote accuses fuel marketers of pushing for N75 price hike, rejects demand

Dangote Petroleum Refinery has accused members of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) of demanding a N75 per litre increase in the price of petrol and diesel before agreeing to lift products directly from its gantry.

If implemented, the demand would raise the pump price of Premium Motor Spirit (PMS) to about N950 per litre and Automotive Gas Oil (diesel) to around N1,090 in some parts of the country.

The refinery explained that while it sells products at gantry price, DAPPMAN insists on coastal logistics, a process that would add N75 per litre in extra costs. Based on daily national consumption of 40 million litres of petrol and 15 million litres of diesel, the additional cost translates to about N1.5 trillion annually.

In a statement, the refinery said it would not absorb such costs or increase its gantry price to accommodate the marketers’ demands.

“We have no intention of increasing our gantry price to accommodate such demands, nor are we willing to pay a subsidy of over N1.5 trillion, a practice that historically defrauded the Federal Government for many years. DAPPMAN and other marketers are welcome to lift products directly from our gantry and benefit from our logistics-free initiative,” it stated.