Dangote Petroleum Refinery has warned that petrol pump prices could rise to as much as N1,400 per litre if Nigeria relies solely on fuel imports, stressing that large-scale domestic refining has become a critical stabilising force in the downstream petroleum market.

The refinery gave the warning on Monday while dismissing reports that it was shutting down for maintenance, describing the claims as false, misleading, and deliberately circulated to justify another increase in pump prices.

In a statement, the refinery said, “Recent price movements further highlight an uncomfortable reality. In the absence of the Dangote Petroleum Refinery, fuel importers would continue to operate without restraint, with petrol prices potentially escalating to levels estimated at up to N1,400 per litre in a post-subsidy environment. The refinery’s operations have therefore served as a critical stabilising force in the downstream petroleum market.”

It said the alleged shutdown report was being promoted by fuel importers whose commercial interests were threatened by domestic refining, adding that the misinformation was aimed at exploiting Nigerians.