Entrepreneurs Demand N1.5trn Subsidy to Match Refinery Gantry Worth – Dangote

…. Dares DAPPMAN to go to courtroom

Dangote Petroleum Refinery has disclosed that the Depot and Petroleum Merchandise Entrepreneurs Affiliation of Nigeria (DAPPMAN) demanded an annual subsidy of N1.505 trillion to allow members to match the refinery’s gantry costs at their very own depots.

The refinery disclosed that though it presents petroleum merchandise to entrepreneurs at its gantry worth, DAPPMAN insists on taking supply through coastal logistics, an possibility that may add N75 per litre in further prices. Based mostly on each day consumption volumes of 40 million litres of Premium Motor Spirit (PMS) and 15 million litres of Automotive Fuel Oil (AGO), this quantities to an extra annual price of N1.505 trillion (N1,505,625,000,000), which they successfully requested the refinery to soak up or move on to Nigerians.

“Particularly, the entrepreneurs are demanding that we low cost N70/litre in coastal freight, NIMASA, NPA and different related prices in addition to N5/litre for the price of pumping into vessels to allow them to move merchandise from our refinery to their depots in Apapa and promote on the similar worth as our gantry.

“We want to make it clear that we’ve no intention of accelerating our gantry worth to accommodate such calls for, nor are we prepared to pay a subsidy of over N1.5 trillion, a follow that traditionally defrauded the Federal Authorities for a few years. DAPPMAN and different entrepreneurs are welcome to carry merchandise instantly from our gantry and profit from our logistics-free initiative”

The refinery alleged that its refusal to adjust to DAPPMAN’s subsidy request is the core purpose behind current public criticisms and assaults.  It reiterated that the refinery has enough capability to satisfy home demand and assist exports because it persistently maintains a closing inventory of 500 million litres of refined merchandise in its tanks every month.

“Between June and September, the refinery exported a mixed whole of three,229,881 metric tonnes of PMS, AGO, and aviation gas, whereas entrepreneurs imported 3,687,828 metric tonnes over the identical interval, an motion that quantities to dumping, which is detrimental to the Nigerian economic system and the well-being of its residents,” it stated.

Reaffirming its dedication to supporting the reform agenda of President Bola Ahmed Tinubu, the refinery said that by way of numerous strategic interventions, it has helped stabilise the Naira, cushion the results of gas subsidy removing, place Nigeria as a refining hub, increase international trade earnings, and create employment alternatives throughout a number of sectors.

“We get pleasure from sturdy working relationships with authorities businesses and stay dedicated to supporting their efforts, whereas not hesitating to carry establishments accountable the place mandatory.

“Dangote Petroleum Refinery stays firmly dedicated to the progress and well-being of Nigeria, and is open to partnerships with patriotic and accountable stakeholders in pursuit of nationwide improvement,” it famous.

The Refinery additionally reaffirmed its place concerning its current assertion on the DAPPMAN, which was printed on Monday, 15 September, in a number of nationwide dailies and respected on-line platforms.

The refinery careworn that any celebration aggrieved by the content material of the publication is free to hunt redress by way of acceptable authorized channels. It famous that it might not be swayed by threats or so-called seven-day ultimatums and is absolutely ready to defend its place by way of all legit means.