The Management of Dangote Petroleum Refinery and Petrochemicals has stepped forward to debunk viral allegations suggesting that its Premium Motor Spirit (PMS) and other refined petroleum products are being exported to Lomé, Togo, only to be round-tripped and re-imported into Nigeria, reports ITREALMS.
In an official statement released to ITREALMS, clarified the situation, stating that the company broke its standard policy of ignoring unsubstantiated rumors, citing the need for transparent corporate governance and public accountability.
Management, ITREALMS gathered, explicitly stated that the claims are entirely manufactured and collapse when measured against actual trade data, strict contractual safeguards, and clear market logic.
The refinery laid bare the financial impossibility of the rumored arbitrage scheme, noting that the sheer logistics involved would bleed capital rather than generate profit.
The estimated shipping, handling, and storage costs to transport refined products from the Lekki-based refinery to Lomé, and then back into Nigerian waters, range between US$82–$90 per metric ton.
Dangote Refinery confirmed that it does not provide steep export discounts that could ever offset these heavy logistical margins.
In a competitive primary market, no rational energy producer would purposefully bankroll additional maritime shipping, financing, and storage fees simply to have its own product return to cannibalize its domestic market share.
To prevent market distortions, Dangote Refinery has baked aggressive legal and digital oversight mechanisms into its supply chain architecture:
"All sales contracts and tender agreements expressly prohibit the resale or re-importation of Dangote Refinery products back into Nigeria."
Beyond legal boundaries, the facility maintains stringent product traceability protocols. Every single drop of fuel lifted is backed by digital records tracking the exact lifting points, nominated vessels, counterparties, and declared final destinations, giving regulators and compliance teams total visibility across regional waters.
The refinery reiterated that its primary industrial mandate is to eradicate Nigeria’s historical reliance on foreign imported fuel, conserve scarce foreign exchange reserves, and boost local manufacturing. Enabling or tolerating round-tripping would directly undermine these core targets.
Management concluded by reassuring stakeholders that the facility remains intensely focused on its primary mission: enhancing regional energy security, driving down domestic supply bottlenecks, and contributing sustainably to Africa’s industrial development.
The refinery laid bare the financial impossibility of the rumored arbitrage scheme, noting that the sheer logistics involved would bleed capital rather than generate profit.
The estimated shipping, handling, and storage costs to transport refined products from the Lekki-based refinery to Lomé, and then back into Nigerian waters, range between US$82–$90 per metric ton.
Dangote Refinery confirmed that it does not provide steep export discounts that could ever offset these heavy logistical margins.
In a competitive primary market, no rational energy producer would purposefully bankroll additional maritime shipping, financing, and storage fees simply to have its own product return to cannibalize its domestic market share.
To prevent market distortions, Dangote Refinery has baked aggressive legal and digital oversight mechanisms into its supply chain architecture:
"All sales contracts and tender agreements expressly prohibit the resale or re-importation of Dangote Refinery products back into Nigeria."
Beyond legal boundaries, the facility maintains stringent product traceability protocols. Every single drop of fuel lifted is backed by digital records tracking the exact lifting points, nominated vessels, counterparties, and declared final destinations, giving regulators and compliance teams total visibility across regional waters.
The refinery reiterated that its primary industrial mandate is to eradicate Nigeria’s historical reliance on foreign imported fuel, conserve scarce foreign exchange reserves, and boost local manufacturing. Enabling or tolerating round-tripping would directly undermine these core targets.
Management concluded by reassuring stakeholders that the facility remains intensely focused on its primary mission: enhancing regional energy security, driving down domestic supply bottlenecks, and contributing sustainably to Africa’s industrial development.
Chuks Egbune/DoP
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