Dangote Petroleum Refinery has firmly denied allegations that fuel products exported from its facility are being smuggled back into Nigeria through the port of Lomé in Togo.
The company issued the statement to counter persistent market rumors suggesting that its export volumes are artificially inflated by circular trade flows that ultimately supply the Nigerian domestic market.
The denial comes at a sensitive time for the refinery, which is navigating intense regulatory oversight.
The Nigerian Securities and Exchange Commission (SEC) recently ordered capital market operators to immediately cease all promotional activities related to the proposed initial public offering of Dangote Petroleum Refinery.
The regulator’s directive was aimed at curbing unauthorized marketing and ensuring compliance with disclosure standards ahead of the listing.
Allegations of fuel smuggling via neighboring countries have periodically surfaced in Nigeria’s energy sector, often raising questions about the true volume of domestic supply versus export commitments.