Aliko Dangote says it’s costlier to lift petroleum from his Lekki refinery than from Lomé, blaming local port charges that hinder competition and promote fuel imports.
Aliko Dangote, President of the Dangote Group, has raised alarm over regulatory and logistics bottlenecks making it costlier for oil marketers to lift refined products from his $20bn Lekki refinery than offshore locations like Lomé, Togo. Speaking at the Global Commodity Insights Conference in Abuja, Dangote said, “It is currently more expensive to load a domestic cargo of petroleum products from the Dangote Refinery, as customers pay both at the point of loading and discharge.”
He warned that the structure disincentivises local refining, fuels imports, and hampers the government’s forex-saving goals. Petroleum marketers also criticized the refinery’s pricing model, claiming it limits competition. DAPPMAN’s Executive Secretary, Olufemi Adewole, said, “We are ready to patronise Dangote. But the issue is, is Dangote ready to give us the product we want?”
Independent marketers clarified that local buyers may not face the same charges as those using coastal routes. Analysts also pointed to cheaper, low-octane imported fuel as a factor reducing landing costs.