Dangote Petroleum Refinery has warned that petrol prices in Nigeria could surge to as high as ₦1,400 per litre if the country depends entirely on imported fuel, stressing that local refining remains crucial to stabilising the downstream petroleum sector.
The refinery issued the warning on Monday while dismissing reports suggesting it was shutting down for maintenance, describing the claims as false and deliberately circulated to justify fresh pump price increases.
In a statement, the company said recent price trends underscored the risk of unchecked fuel importation in a post-subsidy environment.
“In the absence of the Dangote Petroleum Refinery, fuel importers would continue to operate without restraint, with petrol prices potentially escalating to levels estimated at up to ₦1,400 per litre,” the statement said, adding that domestic refining had become a critical stabilising force in the market.
The refinery alleged that the shutdown reports were being pushed by fuel importers whose interests were threatened by large-scale local production.
“This misinformation has been opportunistically deployed to justify recent and unwarranted increases in petrol pump prices, imposing unnecessary hardship on Nigerians,” it stated.
Dangote Refinery maintained that production remained stable and uninterrupted, noting that it currently has the capacity to supply between 40 million and 50 million litres of Premium Motor Spirit (PMS) daily, depending on market demand.
According to the company, it produced 50 million litres of PMS on January 4 and evacuated 48 million litres through its gantry, with existing stock sufficient to cover more than 20 days of national consumption.
Clarifying concerns about maintenance, the refinery explained that routine servicing of certain units does not affect output due to the integrated design of its facilities.
“Maintenance activities on specific units do not interrupt overall production, as other critical units remain fully operational,” it said, adding that it continues to produce PMS, diesel, and aviation fuel for the domestic market.
The refinery also reaffirmed its ex-gantry petrol price of ₦699 per litre, stating that the rate applies to all marketers and bulk buyers without discrimination.
It urged fuel marketers and large-scale consumers to patronise locally refined products, arguing that domestic sourcing would help moderate prices, conserve foreign exchange, and enhance energy security.
“By sourcing PMS locally, marketers can pass on price relief to consumers and contribute to market stability and Nigeria’s economic recovery,” the statement added.
The company advised the public to disregard false reports and rely only on verified information, reiterating its commitment to supporting Nigeria’s energy independence and industrial growth.
