• Aircraft manufacturer, Bombardier, endorses Dangote Refinery
Dangote Petroleum Refinery has revealed that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has requested it to increase the price of petrol and diesel by N75 per litre, to allow its members to match the refinery’s gantry prices at their respective depots.
If implemented, this would result in the pump price of Premium Motor Spirit (PMS) and diesel rising to as high as N950 and N1,090 per litre, respectively, in some parts of Nigeria.
According to the refinery, although it offers petroleum products to marketers at its gantry price, DAPPMAN insists on taking delivery via coastal logistics. This option, it said, would incur an additional N75 per litre in extra costs.
Based on daily consumption volumes of 40 million litres of Premium Motor Spirit (PMS) and 15 million litres of Automotive Gas Oil (AGO), this amounts to an additional annual cost of N1.505 trillion (N1,505,625,000,000), which they effectively asked the refinery to absorb and pass on to Nigerians.
“We wish to make it clear that we have no intention of increasing our gantry price to accommodate such demands, nor are we willing to pay a subsidy of over N1.5 trillion, a practice that historically defrauded the Federal Government for many years. DAPPMAN and other marketers are welcome to lift products directly from our gantry and benefit from our logistics-free initiative,” it said.
The refinery alleged that its refusal to comply with DAPPMAN’s subsidy request is the core reason behind recent public criticisms and attacks. It reiterated that the refinery had sufficient capacity to meet domestic demand and support exports as it consistently maintains a closing stock of 500 million litres of refined products in its tanks each month.
“Between June and September, the refinery exported a combined total of 3,229,881 metric tonnes of PMS, AGO, and aviation fuel, while marketers imported 3,687,828 metric tonnes over the same period, an action that amounts to dumping, which is detrimental to the Nigerian economy and the well-being of its citizens,” it said.
Reaffirming its commitment to supporting the reform agenda of President Bola Ahmed Tinubu, the refinery stated that through various strategic interventions, it had helped to stabilise the naira, cushion the effects of fuel subsidy removal, position Nigeria as a refining hub, boost foreign exchange earnings, and create employment opportunities across multiple sectors.
“We enjoy strong working relationships with government agencies and remain committed to supporting their efforts, while not hesitating to hold institutions accountable where necessary.
“Dangote Petroleum Refinery remains firmly committed to the progress and well-being of Nigeria, and is open to partnerships with patriotic and responsible stakeholders in pursuit of national development,” it noted.
MEANWHILE, Canadian aerospace giant Bombardier Inc. has endorsed the Dangote Petroleum Refinery, describing it as a world-class facility and praising its large-scale production of jet fuel as a significant boost for the aviation industry.
The Chairman of Bombardier’s Board of Directors, Pierre Beaudoin, led a delegation on a tour of the facility, expressing admiration for the vision.
The delegation included Regional Vice Presidents Hani Haddadin and Chris Davey, alongside Corporate Director Jean Bernier.
Beaudoin lauded Aliko Dangote, President of the Dangote Group, for his foresight and commitment to transforming Africa through such a monumental project.
Dangote, accompanied by the Group’s Vice President for Oil & Gas, Devakumar Edwin, led the Bombardier team on a tour of the refinery. He stated that the facility was not only built to world-class standards but also produces petroleum products that meet international specifications.
