COASTAL LOGISTICS COULD PUSH PETROL PRICE TOWARDS N1,000 PER LITRE – DANGOTE REFINERY

COASTAL LOGISTICS COULD PUSH PETROL PRICE TOWARDS N1,000 PER LITRE – DANGOTE REFINERY


Dangote Refinery has warned that reliance on coastal logistics for fuel distribution could significantly raise the pump price of Premium Motor Spirit (PMS) if the additional costs are passed on to consumers.

In a statement released on Thursday via its official communication channels, the refinery outlined key aspects of its fuel production and evacuation operations, stressing that distribution choices play a major role in determining final fuel prices.

According to the company, the Dangote Refinery operates a large-scale gantry loading facility with 91 loading bays, capable of handling up to 2,900 trucks daily. The facility, it said, can evacuate more than 50 million litres of petrol and about 14 million litres of diesel every day through continuous 24-hour operations.

The refinery described gantry loading as the most cost-efficient evacuation method, noting that it eliminates port charges, maritime levies and vessel-related expenses that ultimately do not add value to consumers.

Dangote Refinery clarified that fuel marketers are free to choose between gantry loading and coastal shipping for evacuation, adding that no restrictions are imposed on distribution options. However, it cautioned that coastal logistics could add an estimated ₦75 per litre to petrol costs.

The company warned that if these additional costs are transferred to consumers, PMS pump prices could approach ₦1,000 per litre.

It further stated that Nigeria’s average daily consumption stands at approximately 50 million litres of petrol and 14 million litres of diesel, adding that dependence on coastal logistics could impose an estimated additional annual cost of about ₦1.75 trillion on the economy.

Highlighting the benefits of local refining, Dangote Refinery noted that domestic fuel production has already contributed to price reductions. According to the company, diesel prices have dropped from about ₦1,700 per litre to between ₦980 and ₦990, while PMS prices have declined from around ₦1,250 per litre to a range of ₦839 to ₦900 per litre.

The refinery added that local refining has also helped ease pressure on foreign exchange demand and supported naira stability by reducing fuel import dependence.

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