Dangote Petroleum Refinery has warned that Nigeria could face petrol pump prices as high as ₦1,400 per litre if the domestic market becomes fully dependent on fuel imports.
The refinery said the warning reflects prevailing market realities in an import-driven system where pricing is exposed to foreign exchange volatility, shipping costs, financing charges, and international supply disruptions.
According to the company, large-scale domestic refining has emerged as a key stabilising factor in the downstream petroleum market by insulating local supply from these external pressures.
Dangote Refinery also dismissed reports suggesting it was shutting down operations, describing such claims as inaccurate and inconsistent with current production activity. It said operations remain stable and uninterrupted, with output continuing at scale.
The company disclosed that it currently has the capacity to supply between 40 million and 50 million litres of Premium Motor Spirit daily, depending on market demand.
It added that recent production and evacuation levels demonstrate its ability to support national consumption requirements without disruption.
According to the refinery, daily loading volumes since mid-December have ranged between 31 million and 48 million litres of PMS, with stock levels sufficient to cover more than 20 days of national demand.
These volumes, it said, are verifiable through depot loading records maintained by the industry regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
On pricing, Dangote Refinery reaffirmed that it continues to sell PMS at an ex-gantry price of ₦699 per litre, available to all marketers and bulk buyers without discrimination.
The company said local sourcing at this price provides a pathway for marketers to moderate pump prices, reduce pressure on foreign exchange, and improve overall market stability.
The refinery noted that reliance on imported fuel would expose consumers to higher landing costs, which could significantly raise retail prices if domestic refining capacity were absent.
It argued that this exposure explains why pump prices could escalate sharply in a fully import-dependent market.
Dangote Refinery urged marketers, large-scale consumers, and institutional buyers to prioritise locally refined products, stating that increased domestic uptake would strengthen energy security and support broader economic recovery efforts.
The company added that it would continue to focus on steady supply and operational reliability, while advising the public and market participants to rely on verified information and official data when assessing developments in the downstream petroleum sector.
