Dangote Petroleum Refinery has cautioned that petrol pump prices could soar to as high as N1,400 per litre if Nigeria depends entirely on imported fuel, underscoring the refinery’s role as a key buffer in the downstream petroleum sector.
The warning was issued on Monday as the company dismissed reports claiming it was shutting down for maintenance.
Describing the claims as false and misleading, the refinery said they were deliberately circulated to provide cover for fresh increases in petrol prices.
In a statement, the refinery noted that recent price trends reveal a troubling reality, stressing that without large-scale local refining, fuel importers would operate unchecked in a post-subsidy market, driving prices sharply upward.
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It added that its operations have helped moderate costs and stabilise supply nationwide.
The company alleged that the shutdown rumours were being pushed by fuel importers whose business interests are threatened by domestic refining, accusing them of spreading misinformation to exploit Nigerians and justify what it called unjustified pump price hikes.
Reaffirming its operational status, Dangote Refinery said production remains steady and uninterrupted, with the capacity to supply between 40 million and 50 million litres of Premium Motor Spirit (PMS) daily, depending on market demand.
According to the refinery, 50 million litres of PMS were produced on January 4, with 48 million litres evacuated through its gantry the same day. It added that existing stock levels are sufficient to meet more than 20 days of national consumption, easing concerns about supply shortages.
Addressing maintenance concerns, the company explained that routine work on specific units does not disrupt overall output due to the integrated and sophisticated design of its facilities.
It said scheduled maintenance on units such as the Crude Distillation Unit and the Residual Fluid Catalytic Cracking unit is carried out without affecting total production.
