The Depot and Petroleum Product Marketers Association of Nigeria (DAPPMAN) has criticized the Dangote Refinery’s decision to slash petrol prices, warning that the move could destabilize the downstream oil market.
The refinery had announced plans to reduce petrol prices from ₦865 to ₦841 per litre in Lagos and other South-West states, while Abuja, Edo, and Kwara residents would buy at ₦851 per litre. The announcement coincides with the refinery’s new direct fuel distribution scheme set to begin Monday.
In a statement issued Saturday, DAPPMAN’s Executive Secretary, Olufemi Adewole, argued that presenting these price cuts as patriotic acts was misleading, given their timing and impact.
“These reductions were often strategically announced when other importers already had cargoes on the way or stored in depots. This creates price shocks, weakens competition, and financially strains other market players – including Dangote’s own domestic customers,” Adewole said.
He also accused the refinery of offering cheaper prices to international buyers while charging Nigerian offtakers more, contradicting its public claim of prioritizing local consumers.
Concern Over Industry Stability
DAPPMAN further expressed concern about the ongoing dispute between Dangote Refinery and the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG), warning that the fallout could affect ordinary Nigerians and disrupt a market still stabilizing after deregulation.
“As long-standing players in Nigeria’s downstream sector, we must correct misleading claims suggesting that the country’s fuel stability depends solely on one refinery,” Adewole stated.
According to him, Dangote Refinery currently meets only 30–35% of Nigeria’s fuel demand, with the balance supplied by DAPPMAN members and other marketers who import and distribute petroleum products under the oversight of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Decades of Investment
Adewole stressed that DAPPMAN members have for decades ensured nationwide fuel availability by investing heavily in depots, trucking fleets, and retail infrastructure, even through foreign exchange crises, subsidy removals, and security challenges.
He rejected any insinuation that DAPPMAN members sell “substandard” products, insisting that all imports pass rigorous, regulator-approved laboratory tests in line with global quality standards.
