Dangote Refinery Dismisses Claims of PMS Export to Lomé for Re-importation into Nigeria

 Dangote Refinery Dismisses Claims of PMS Export to Lomé for Re-importation into Nigeria

LAGOS – Dangote Petroleum Refinery and Petrochemicals has strongly refuted allegations that its petroleum products are exported to Lomé, Togo, and subsequently re-imported into Nigeria, describing the claims as false, misleading, and unsupported by commercial realities.

In a statement issued by its management, the company expressed concern over the circulation of what it termed unfounded allegations, stressing that the claims lack verifiable trade data, economic justification, and operational credibility.

According to the refinery, its primary mandate is to strengthen domestic fuel supply and serve as a leading provider of petroleum products within Nigeria. It noted that any arrangement that would allow imported products to compete with its own locally refined products runs contrary to its business objectives.

The company explained that all sales contracts and tender agreements contain clear provisions prohibiting the resale or re-importation of Dangote Refinery products into Nigeria.

Management further argued that the economics of the alleged trade route are impractical, estimating that logistics costs associated with transporting petroleum products from the refinery to Lomé and back into Nigeria would range between $82 and $90 per metric ton.

It stated that such additional expenses would significantly reduce profit margins and make the transaction commercially unattractive.

“Dangote Refinery does not provide export discounts sufficient to offset these costs or create arbitrage opportunities between export and domestic markets,” the statement said.

“Simply put, no rational producer would incur additional shipping, storage, financing and handling costs only for products to re-enter and compete in its primary market.”

The refinery also highlighted its strict product-tracking systems, noting that detailed records are maintained on lifting points, nominated vessels, counterparties, and declared destinations to ensure transparency and accountability throughout the supply chain.

According to the company, suggestions that it facilitates or condones re-importation are inconsistent with its contractual safeguards and established compliance procedures.

Dangote Refinery reiterated its commitment to reducing Nigeria’s dependence on imported petroleum products, emphasizing that any practice encouraging re-importation would undermine local refining efforts, place additional pressure on foreign exchange reserves, and hinder industrial growth.

The management maintained that there is no strategic, economic, or operational basis for claims that the refinery exports petroleum products for re-importation into Nigeria.

“The allegation is entirely unfounded and does not withstand scrutiny when measured against market logic, contractual frameworks and industry practices,” the statement added.

The company reaffirmed its commitment to enhancing Nigeria’s energy security, supporting local refining capacity, and contributing to industrial development across Africa.