The Dangote Petroleum Refinery has revealed it rejected a request from the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) to increase the price of petrol and diesel by N75 per litre.
If approved, this move could have sent pump prices soaring to N950 for petrol and N1,090 for diesel in some parts of the country.
The refinery disclosed that while it offers products at its gantry price, DAPPMAN demanded coastal delivery, a logistics option that would add N75 per litre in extra costs.
According to the refinery, this request effectively asked it to absorb an annual cost of over N1.5 trillion, a burden it has no intention of taking on or passing to the public.
In a statement, the refinery said it would not raise its gantry prices to accommodate the demands or pay what it referred to as a "subsidy," a practice it claims historically defrauded the federal government.
"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," the refinery stated.
It urged DAPPMAN and other marketers to lift products directly from its gantry and take advantage of its "logistics-free initiative."
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