…Accuses Marketers of Arbitrage
According to a report by Punch Newspapers Sept 16, 2025. The Dangote Group has vehemently denied allegations by the Depot and Petroleum Product Marketers Association of Nigeria (DAPPMAN) that its refinery sells petrol to international traders at a cheaper rate than it offers to Nigerian marketers.
In a statement issued on Monday, the company described the claims as “misleading and inaccurate,” and accused some marketers of engaging in “round-tripping” and arbitrage practices.
The controversy was sparked by DAPPMAN’s Executive Secretary, Olufemi Adewole, who alleged that some of the association’s members were able to purchase Dangote’s petrol from international traders in Lomé, Togo, at a price approximately ₦65 lower than the direct price from the refinery in Nigeria. Adewole claimed this made it more economical for marketers to import the product from Togo.
In its rebuttal, the Dangote Group questioned the logic of the claim, highlighting that the retail pump price of petrol in Togo is significantly higher than in Nigeria. “It is incorrect to claim that the price of petrol in Togo is lower than in Nigeria,” the statement read. “A straightforward check reveals that the average pump price in Lomé stands at approximately 680 CFA francs per litre, equivalent to about ₦1,826—more than double the ₦865 per litre price in Nigeria.”
The company further stated that this reality contradicts the narrative that it is supplying cheaper petrol to foreign buyers while keeping prices high for domestic marketers.
The Dangote Group also accused some marketers of being more interested in arbitrage opportunities than in providing petroleum products to Nigerian consumers. According to the company, these marketers are engaging in a scheme where they buy petrol produced by the Dangote refinery, route it through Togo, and then re-import it into Nigeria at a markup.
The ongoing dispute underscores the tensions between Nigeria’s largest private refinery and petroleum marketers, as the industry grapples with efforts to stabilize fuel prices.
SOURCE: Lere-News