THE management of Dangote Petroleum Refinery and Petrochemicals has noted with concern the circulation of unfounded and misleading claims suggesting that its petroleum products are exported to Lomé and subsequently re-imported into Nigeria.
The company, in a statement, stated that, as a matter of policy, it does not ordinarily engage with baseless and unsubstantiated allegations. However, in the interest of transparency and to set the record straight, management considers it necessary to address this deliberate misinformation.
Management, in a statement made available June 24, to Realnews, stated unequivocally that the allegation is not supported by verifiable trade data, commercial logic, or the operational realities of Dangote Refinery.
It said: “A core mandate of the refinery, according to the statement is to strengthen domestic supply and remain a leading provider of petroleum products in Nigeria. Any practice that enables imports to compete directly with its own production clearly contradicts this objective. Accordingly, Management confirms that all sales contracts and tender agreements expressly prohibit the resale or re-importation of Dangote Refinery products into Nigeria.
“Furthermore, Management emphasises that the economics of the purported trade route are fundamentally flawed. Estimated logistics costs for transporting products from the refinery to Lomé and back into Nigeria range between US$82–90 per metric ton. Such additional costs would...
Business THE management of Dangote Petroleum Refinery and Petrochemicals has noted with concern the circulation of unfounded and misleading claims suggesting that its petroleum products are export...