Dangote refinery petrol supply exceeds 310m litres as VP challenges marketers to bring tankers, refuting claims of scarcity behind price hikes
Dangote refinery petrol supply is not to blame for Nigeria’s recent price hike, insists the company’s Vice President, Devakumar Edwin, who on Friday threw a public challenge to fuel marketers: “Bring your tankers. We’ll load them all.”
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Edwin made the statement during a tour of the multi-billion-dollar refinery in Lagos, assuring that the plant currently holds over 310 million litres of premium motor spirit (PMS)—more than enough to serve local demand and export commitments.
“I can go and try to increase my filling station price—maybe Dangote is not supplying,” he said mockingly. “But bring your tankers. Any number, we’ll load them.”
This declaration comes as Nigerians grapple with petrol prices soaring past ₦950 per litre, even while crude oil prices and foreign exchange rates—two key factors in fuel pricing—have largely stabilised in recent weeks.
Edwin suggested that some marketers are using rumours of supply disruption to justify inflated pump prices, despite the Dangote refinery producing consistently.
“We have enough stock. If your crude inventory is high, you slow inflow—it doesn’t mean you’re not working. We’re not short of PMS; we’re full to the brim.”
According to him, any reduction in crude intake was standard inventory strategy, not indicative of operational failure.
He stressed that the facility is running well and has capacity to meet 100% of Nigeria’s diesel, aviation fuel and PMS needs, while exporting nearly 50% of its output.
“This is a 650,000-barrel refinery, producing 94% lighter products. Not like the older Nigerian refineries. This one meets and exceeds local demand,” Edwin said.
He confirmed the refinery’s petrol gantry price had risen to ₦870, up from ₦820—still significantly below the retail prices at most filling stations.
Across Lagos, Ogun, and Abuja, filling stations hiked prices between ₦930 and ₦950, fuelling consumer outrage. The Nigerian National Petroleum Company (NNPC) retail stations also adjusted from ₦928 to ₦920 per litre over the weekend.
NNPC spokesperson Andy Odeh attributed the move to rising depot costs. Meanwhile, Dangote’s retail partners—MRS and Heyden—sold petrol at ₦925 and ₦923 respectively.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) blamed depot owners for the price spike, insisting supply is not the issue.
“They say we’re not loading,” Edwin said. “But if we weren’t loading, where’s the 310 million litres coming from?”
The Naira’s recovery—from ₦1,700 to ₦1,470 per dollar—and the drop in Brent crude below $60 per barrel suggest that fuel prices should be going down, not up.
But marketers maintain high landing costs and local logistics are pushing prices higher.
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Still, for many Nigerians facing soaring transport costs and inflation, the technicalities matter less than when relief will arrive at the pump.
David Okere is a journalist and contributor to Freelanews.com, covering business, governance, public affairs, and human-interest stories with a commitment to accuracy, balance, and public interest reporting.
