The Management of the Dangote Petroleum Refinery and Petrochemicals (DPRP) has noted with concern the circulation of unfounded and misleading claims suggesting that its petroleum products are exported to Lomé and subsequently re-imported into Nigeria.

In a statement on Tuesday, the company averred that as a matter of policy, it does not ordinarily engage with baseless and unsubstantiated allegations.

The statement reads, in part, “However, in the interest of transparency and to set the record straight, Management considers it necessary to address this deliberate misinformation.

“Management states unequivocally that the allegation is not supported by verifiable trade data, commercial logic, or the operational realities of Dangote Refinery.”

It added that a core mandate of the refinery, “is to strengthen domestic supply and remain a leading provider of petroleum products in Nigeria. Any practice that enables imports to compete directly with its own production clearly contradicts this objective.

“Accordingly, Management confirms that all sales contracts and tender agreements expressly prohibit the resale or re-importation of Dangote Refinery products into Nigeria.

“Furthermore, Management emphasises that the economics of the purported trade route are fundamentally flawed. Estimated logistics costs for transporting products from the refinery to Lomé and back into Nigeria range between US$82–90 per metric ton. Such additional costs would significantly erode margins and render the transaction commercially unviable.

“Dangote Refinery does not provide export discounts sufficient to offset these costs or create arbitrage opportunities between export and domestic markets. Simply put, no rational producer would incur additional shipping, storage, financing, and handling costs only for products to re-enter and compete in its primary market.”

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The statement also highlights that the refinery maintains stringent product traceability protocols, including detailed records of lifting points, nominated vessels, counterparties, and declared destinations. These measures ensure full visibility and accountability across the supply chain.

The statement insisted that any “claim suggesting that the refinery facilitates or tolerates re-importation is inconsistent with its contractual safeguards and established compliance standards.

The refinery has consistently advocated for reducing Nigeria’s dependence on imported petroleum products. Management underscores that encouraging or enabling re-importation would undermine local refining efforts, strain foreign exchange reserves, and weaken national industrial growth, positions that are contrary to its core objectives.

Management reiterates that there is no strategic, economic, or operational basis for the claim that Dangote Refinery exports products for re-importation into Nigeria. The allegation is entirely unfounded and does not withstand scrutiny when measured against market logic, contractual frameworks, and industry practices.

The statement concluded that “Dangote Refinery remains focused on its mission to enhance energy security, support local refining, and contribute meaningfully to Africa’s industrial development”

President of the United States, Donald Trump, says a record 19 million barrels of oil flowed out of the Strait of Hormuz on Monday.

According to Trump on Tuesday, oil prices are tumbling as a result of the oil flow through Hormuz.

“19 million barrels of oil flowed out of the Hormuz Strait yesterday, an all-time record. Oil prices are tumbling down, and the world is a much safer place,” Trump said in a post on his social media handles.

According to oilprice.com, Brent crude fell to $76.75 per barrel on Tuesday, down from $77 per barrel on Monday.

The decline in oil prices came after US Vice President JD Vance said progress had been made in discussions with Iran and confirmed that the Strait of Hormuz remained open, reducing fears of a major supply shock in the global oil market.

The benchmark had earlier risen as high as $82.30 per barrel over the weekend amid renewed tensions following threats by US President Donald Trump to restart military action against Iran and Tehran’s announcement that it had again closed the strategic waterway.

High-level officials from the US and Iran concluded their first round of talks in Switzerland on Monday, according to mediators. The discussions began on Sunday under a memorandum of understanding reached last week to extend a fragile ceasefire from April for at least another 60 days.

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In a move expected to boost oil supply, the US Treasury Department on Monday authorised Iranian oil sales through a general licence that permits the sale of crude oil and petrochemical products of Iranian origin until August 21.

Meanwhile, US Secretary of State Marco Rubio has arrived in Abu Dhabi on Tuesday to meet with Gulf allies.

Addressing newsmen, Rubio said no country would be allowed to charge tolls for shipping in the Strait of Hormuz as he sought to reassure US allies in the Gulf that Washington would take a firm line in peace negotiations with Iran.

Rubio is to meet Gulf allies on Tuesday and Wednesday in an attempt to reassure them that the US remains committed to their security and that the 60-day ceasefire deal struck with Iran last week will not embolden Tehran.

Arriving in Abu Dhabi, Rubio said the US would provide for freedom of navigation through the Strait of Hormuz and that no country would be allowed to charge a toll there, which Iran has said it has a right to do.

“It’s an international waterway. No country is allowed to charge tolls or fees on an international waterway. That’s existing international law. That’s the way it is in international waterways all over the world, and that’s the way we expect it’ll be here,” he said.

Former Deputy National Publicity Secretary of the All Progressives Congress (APC), Comrade Timi Frank, has urged Nigeria’s security agencies to stop the arrest and detention of activist and presidential candidate, Omoyele Sowore, and instead channel their energy toward tackling bandits and terrorists across the country.

Frank made the call in a statement issued on Tuesday, describing the arrest of Sowore as a “national disgrace” and accusing the State Security Service (SSS) of misplaced priorities amid worsening insecurity in Nigeria.

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He said it was alarming that security operatives were focusing on political figures while violent groups continue to unleash terror on innocent citizens in several parts of the country.

“It is unfortunate that the SSS seems more interested in going after opposition figures than confronting the bandits and terrorists terrorising innocent Nigerians. This arrest is clearly politically motivated,” Frank said.

He argued that while security agencies expend resources tracking government critics, armed groups responsible for killings, kidnappings, and displacement continue to operate with little resistance.

Frank, who also serves as Ambassador of the United Liberation Movement for West Papua to East Africa and the Middle East, warned that such actions could erode public trust in security institutions and further deepen tensions ahead of the 2027 general elections.

He called on security agencies to redirect their attention to real threats facing citizens, stressing that national security should not be politicised.

Meanwhile, Timi Frank maintained that Nigeria’s priority should be restoring safety and stability rather than targeting dissenting voices.