Dangote Petroleum Refinery has firmly rejected suggestions that the recent reduction in petrol pump prices was influenced by the Federal Government’s suspension of a 15 per cent import tariff, insisting the adjustment resulted solely from its independent downward review of Premium Motor Spirit (PMS) prices.
In a statement issued yesterday, the company clarified that it had already lowered both its gantry and coastal prices on November 6, days before marketers adjusted pump prices nationwide. It described reports linking the new pump prices to the tariff decision as “misleading,” “false,” and “inconsistent with market realities.”
According to the refinery, the confusion stems from publications claiming that marketers reduced pump prices because the government reversed the tariff.
Don’t Miss This: Nigeria Pursues New Global Air Deals at Dominican Republic Aviation Forum
Dangote maintained that its own pricing action triggered the downstream changes, noting that the tariff issue was being wrongly used to distort public understanding of actual market events.
The company reiterated that it reduced the PMS gantry price from N877 to N828 per litre and the coastal price from N854 to N806 per litre, representing a 5.6 per cent cut that had already been widely reported by major media outlets before marketers adjusted their pump prices.
It stressed that the 15 per cent tariff approved by President Bola Tinubu on October 21 was yet to be implemented at the time of its price review, dismissing any link between the suspension and the new pump prices.
Dangote also warned that attempts to misrepresent facts, particularly by “speculative importers,” were unhelpful and risked destabilising the emerging domestic fuel supply system.
The refinery noted that many imported products currently in circulation do not meet acceptable quality standards and are being sold at higher prices than its own internationally benchmarked fuel.
The company highlighted that since commencing operations, it has reviewed pump prices downward more than seven times, often absorbing logistics costs to maintain stable nationwide distribution, particularly during festive periods. It added that its operations have helped eliminate the traditional “ember month” scarcity associated with import delays, hoarding, and distribution bottlenecks.
Dangote further warned against the dumping of substandard imported fuel, describing it as a practice that had previously crippled major Nigerian industries, including the textile sector.
Reaffirming its long-term commitment to Nigeria’s energy sector, the refinery said it will continue prioritising transparency, integrity, and national energy security.
It urged marketers and stakeholders to rely on verified information to avoid misleading the public.
