Dangote Petroleum Refinery rejects DAPPMAN’s N1.5trn subsidy demand, vowing to defend its stance and support Nigeria’s economic reforms.
Dangote Petroleum Refinery has firmly rejected the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) demand for a subsidy estimated at N1.505 trillion.
The company insists it will not yield to what it describes as an unfair and unsustainable request.
In a strongly worded statement on Wednesday, the refinery said it stood by its earlier publications in major national newspapers and reputable online platforms.
It also stressed that any aggrieved party was free to seek redress through legal channels.
The refinery explained that the crux of DAPPMAN’s attacks lies in its demand for an annual subsidy to cover coastal logistics and other costs.
The marketers want Dangote Petroleum Refinery to absorb an extra N75 per litre. This figure includes N70 in freight and statutory charges plus N5 for vessel pumping costs.
The management noted that it has no plans to raise its gantry prices or subsidise marketers with over N1.5 trillion. It described the subsidy era as a practice that previously drained Nigeria’s economy.
The company pointed out that its gantry system allows marketers to lift products without extra logistics charges. It reaffirmed its capacity to meet Nigeria’s fuel demand while also maintaining robust exports.
Between June and September, it exported more than 3.2 million metric tonnes of refined products. Within the same period, marketers imported over 3.6 million metric tonnes, which the refinery described as harmful dumping.
With a monthly closing stock of 500 million litres of refined products, Dangote Petroleum Refinery said it is playing a stabilising role in the economy.
It highlighted its contribution to strengthening the Naira, easing the removal of subsidies, and creating jobs.
The refinery also reaffirmed its support for the reform agenda of President Bola Tinubu.
While it pledged cooperation with government agencies, it stressed that it will continue to hold institutions accountable whenever necessary.
Also read: Aliko Dangote targets global fertiliser dominance by 2026
Management concluded by reaffirming its commitment to Nigeria’s progress and called on responsible stakeholders to join hands in advancing national development.
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.
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