DANGOTE Petroleum Refinery has revealed that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) requested it to increase the price of petrol and diesel by N75 per litre, in order to allow its members to match the refinery’s gantry prices at their respective depots.
According to the refinery in a statement Thursday evening, 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.
The refinery disclosed that although it offers petroleum products to marketers at its gantry price, DAPPMAN insists on taking delivery via coastal logistics, an option that would add 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,” the refinery said.
