Dangote Refinery denies Lomé fuel export/re-import claims, cites $82-$90/ton cost barrier
Dangote Refinery denied allegations on Tuesday, June 22, that its petroleum products are exported to Lomé, Togo and later re-imported into Nigeria, calling the claims 'unsubstantiated' and 'a tissue of lies.' The refinery stated such trade lacks commercial logic due to additional logistics costs of $82-$90 per metric ton for the round trip, making it commercially unattractive.
The company stressed that exporting and re-importing would contradict its core objective of strengthening Nigeria's energy security by supplying products directly to the local market. It maintains strict product traceability systems tracking buyers, vessels, lifting points and declared destinations, alongside contractual restrictions prohibiting resale or re-import into Nigeria.
This denial follows recent Dangote Refinery-led fuel price reductions at Nigerian pumps. The company insists such practices would undermine its stance of reducing Nigeria's dependence on imported petroleum products and strengthening local refining capacity.
With fuel prices recently decreasing following refinery rate adjustments, will you trust Dangote's traceability assurances when making fuel purchasing decisions, or remain skeptical about potential arbitrage opportunities undermining local pricing?