Dangote Refinery denies claim its fuel is re‑imported via Lomé
What happened: Dangote Petroleum Refinery issued a statement on Tuesday, June 23, denying claims that petroleum products exported from its facility are being re‑imported into Nigeria through the offshore ship‑to‑ship hub in Lomé, Togo. The refinery called the allegation a "web of falsehoods" and said it lacks support from trade flows or commercial logic.
Why it matters: The denial comes amid a rise in Nigeria’s petrol imports, which jumped 59.5% in May 2026 to 5.9 million litres per day despite increased local refining capacity. If the claim were true, it would suggest that domestically refined fuel is being exported and then brought back, undermining local refining efforts and foreign‑exchange savings.
What you should know: Dangote gave four reasons the claim is unfounded. First, re‑importing its own product would conflict with its goal of being a leading supplier to the Nigerian market. Second, the logistics cost of moving product to Lomé and back is about US$82–90 per metric ton, eroding margins. Third, the refinery does not offer export discounts large enough to create an arbitrage opportunity. Fourth, it has consistently advocated reducing Nigeria’s dependence on imported fuel, noting that increased imports hurt local refining, pressure forex reserves, and industrial development. The company said it keeps full sales records, including lifting locations and destination declarations, and that any suggestion of facilitation contradicts buyer contracts and its compliance procedures. The original claim was attributed to Matthew Tracey‑Cook of S&P Global Commodity Insights during a Major Energy Marketers Association of Nigeria webinar last Thursday. He said that, from March to May, over 70‑80% of fuel imported into Nigeria appeared to originate from Dangote’s coastal volumes. Despite the import rise, domestic refineries still supplied 41.5 million litres per day in May, meaning locally refined product accounted for nearly 88% of total petrol supplied nationwide.