The Dangote Petroleum Refinery has firmly refuted accusations suggesting that its fuel is shipped to Lomé, Togo, only to be brought back into Nigeria. In an official release on Tuesday, the organization labeled these claims as entirely false and lacking any logical or commercial foundation.
The company emphasized that its primary mission is to bolster energy stability within Nigeria and the wider African continent by providing fuel directly to local consumers. Consequently, engaging in the export and subsequent re-importation of its own products would stand in direct opposition to this core mandate.
Financial analysis further contradicts the rumor, as shipping products to Lomé and returning them to Nigeria would incur unnecessary logistics expenses of approximately $82 to $90 per metric ton. Such costs render the described trading pattern economically illogical. The refinery also noted that it lacks pricing incentives that would make such arbitrage profitable.
To ensure transparency, the refinery utilizes robust tracking mechanisms. This includes keeping thorough logs of vessel movements, purchase agreements, and designated destinations, while contractually barring the resale of products back into the Nigerian market. The firm remains dedicated to its goal of decreasing national reliance on foreign fuel imports and enhancing domestic production capabilities.
