Petrol Price: Energy Expert Gives Reasons Nigerians Must Choose Dangote Over Marketers

An energy policy expert, Dan Kunle has faulted the opposition of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) to recent petrol price cuts by the Dangote Refinery, describing the association as “an enemy of the state” for failing to invest in local refining capacity.

Speaking on Arise News TV’s ‘The Morning Show’ on Tuesday, Kunle said DAPPMAN and its members had wasted years merely “talking and talking” while ignoring opportunities to mobilise capital, acquire government-owned refineries and compete with Dangote Refinery.

“Since the pronouncement of President Bola Tinubu abolishing fuel subsidy and deregulating the entire mainstream-downstream framework, we have expected DAPPMAN and all its members to start mobilising immediately,” he said. “They should have raised new capital and invested along with Dangote, or on their own. Instead, they did nothing.”

He likened Dangote’s refinery to a new dawn for Nigeria’s oil sector.

“The day has broken from darkness, so 12 hours of darkness is over, light has come. And the light in this case is Dangote Refinery. He has brought light from the heavens, shed it to earth: let there be light, and there was light. So there is nowhere to hide anymore,” Kunle declared.

Kunle accused importers of prioritising profit over national interest, saying Nigerians would naturally side with Dangote.

“The issue of two elephants fighting, honestly, the other elephants are the importers who want to dump products on Nigerians. The elephant Nigeria is having today is Dangote, who is offering carrots to the people of Nigeria, while DAPPMAN wants to offer scorpion. I don’t see why Nigerians won’t be with Dangote in this game,” he said.

The energy expert further argued that with its capacity, the refinery could afford to export all of its products at competitive global prices. “If he exports everything out while they import, it means they are importing inflation. The game is just over for the local importers,” he stressed.

Kunle also warned that DAPPMAN’s public campaign against Dangote could discourage new players like BUA from investing in refining. “If all this noise continues to distract Dangote and scare away new potential investors, they will reinforce Dangote’s status as a single player. They themselves are not investing, so they have become even an enemy of the state. That is where security agencies have to come in,” he said.

The comments came amid a fierce standoff between DAPPMAN and the Dangote Refinery.

Recall that Dangote Refinery announced that it would reduce petrol prices starting Monday, cutting rates from N865 to N841 in Lagos and the South-West, and to N851 in Abuja, Edo, and Kwara. The refinery also unveiled its direct fuel distribution scheme to retailers.

Howver, in a statement, DAPPMAN’s Executive Secretary, Olufemi Adewole, dismissed the move as a market manipulation tactic.
He said Dangote’s “patriotic” portrayal was misleading, as the refinery slashed prices only when other importers had cargoes en route, triggering losses and “financial strain” on other market participants.

DAPPMAN also accused the refinery of charging higher rates to domestic buyers while offering lower prices to international customers, contradicting its claims of prioritising Nigerians.

In response, the Dangote Group described DAPPMAN’s allegations as “misleading and inaccurate,” insisting that its operations have positioned Nigeria as the main source of affordable petrol feedstock for West Africa.
The refinery also accused some marketers of round-tripping, buying its petrol locally, routing it through Togo, and then re-importing it into Nigeria at inflated prices.

“It is increasingly evident that DAPPMAN and some of its members are disproportionately focused on importation. What then is the business rationale behind this practice, especially when considering the billions wasted on transporting products from Lomé to Lagos?” the group said.

Dangote Refinery argued that domestic partners already enjoy discounts, credit facilities, and logistics support that ensure cheaper fuel supply in Nigeria.