The Dangote Petroleum Refinery has clarified its position on subsidising its petroleum product gantry price to Depot and Petroleum Products Marketers Association of Nigeria in a statement published on Thursday, saying that it will not increase fuel price to consumers.
The refinery stated this in a statement on Thursday while addressing the DAPPMAN insistence on receiving products via coastal logistics, an option that would add N75 per litre in additional costs to consumers.
The company earlier disclosed that DAPPMAN’s several attacks against its operations stemmed from the demand for an annual subsidy of N1.505 trillion to enable their members to match the refinery’s gantry prices at their own depots, which is against the price the company offers for petroleum products to marketers.
According to the statement, Dangote refinery stated that it has no intention of increasing gantry price to accommodate the association’s demands or willing the pay the subsidy, stressing that such practices have crippled the Nigerian Government’s petroleum policies for many years.
The statement reads, “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.”
The company further stressed that it has the capacity to meet domestic demand and support the export of its products, giving a breakdown of total products sold domestically, comparing it to total petroleum products imported by the marketers.
“The Dangote Petroleum Refinery has sufficient capacity to meet domestic demand and support exports. We consistently maintain a closing stock of 500 million litres of refined products in our tanks each month.
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“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.”
The group expressed that it remains steadfast in its support for the reform initiatives of His Excellency, President Bola Ahmed Tinubu, stating that through various strategic efforts, it has demonstrated commitment to stabilising the Naira, cushioning the effects of fuel subsidy removal, positioning Nigeria as a refining hub, boosting foreign exchange earnings, and creating employment opportunities, among others.
“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,” the statement concluded.
TVC previously reported that the Dangote Petroleum Refinery reaffirmed its position against the Depot and Petroleum Products Marketers Association of Nigeria in a statement published on Thursday, insisting that it will not cover the logistics costs that the association is requesting through subsidised rates.
The company, which had earlier stated on Monday across multiple news platforms nationwide, stated that all aggrieved parties over the publication can seek redress in court, stating that it is not moved by the 7-day ultimatum given by DAPPMAN.
https://www.tvcnews.tv/dangote-slams-depot-owners-marketers-over-fuel-subsidy-request/
