The management of Dangote Petroleum Refinery has dismissed claims that petroleum products refined at its facility are exported to Lome in Togo and later brought back into Nigeria
The refinery reacted to reports circulating online alleging that its refined products are shipped to neighbouring countries and re imported into the Nigerian market
In a statement issued on Tuesday through its official X handle the management described the claims as unfounded and inconsistent with trade realities commercial logic and its core business objectives
The company said it was compelled to respond despite its policy of not engaging with unsubstantiated allegations in order to set the record straight
According to the management the allegation does not align with existing trade flows or the refinery’s goal of strengthening energy security in Nigeria and across Africa
The refinery explained that one of its key objectives is to consolidate its position as a major supplier of petroleum products within Nigeria adding that encouraging imports that compete with its own output would run contrary to that objective
It further disclosed that its sales contracts and tender terms clearly prohibit buyers from reselling or re importing products into Nigeria
Addressing the economic feasibility of the alleged practice the refinery stated that transporting products from its facility to Lome and back into Nigeria would attract logistics costs estimated at between eighty and ninety dollars per metric ton thereby eroding profit margins and making such transactions commercially unattractive
The company also noted that it does not offer export discounts capable of offsetting these costs or creating room for arbitrage between domestic and export markets
The management stressed that there is no commercial incentive for a producer to incur additional shipping storage financing and handling expenses only for the product to return and compete in its largest market
It added that the refinery keeps detailed records of all product sales including lifting locations vessels counterparties and declared destinations where applicable
According to the company any suggestion that it is knowingly facilitating re importation contradicts its contractual restrictions compliance framework and established operating procedures
The refinery reiterated its long standing position against Nigeria’s dependence on imported petroleum products noting that increased imports weaken local refining strain foreign exchange reserves and slow domestic industrial growth
It concluded that there is no strategic or commercial justification for exporting products to neighbouring countries for subsequent re importation into Nigeria and that the allegation is unsupported by economic realities contractual controls or compliance systems
