Dangote Petroleum Refinery has dismissed widespread reports suggesting that the recent reduction in pump prices across Nigeria was triggered by a reversal of the Federal Government’s 15 percent import tariff, describing the claims as false, misleading, and inconsistent with market realities.
In a detailed statement, the refinery stressed that the only factor responsible for the nationwide pump price adjustment was its own reduction of Premium Motor Spirit (PMS) gantry and coastal prices announced on November 6, not any government tariff decision.
According to the company,
“The factor that prompted the price adjustment was our own reduction of PMS gantry and coastal prices on November 6. The subsequent change in pump prices is now being wrongly attributed to a tariff decision in an attempt to distort the facts and misinform the public.”
Dangote Refinery explained that on November 6, it reduced its PMS gantry price from ₦877 to ₦828 per litre, representing a 5.6% decrease, while the coastal price dropped from ₦854 to ₦806 per litre. These reductions, the statement noted, were publicly announced across major national media before oil marketers adjusted their retail prices.
The refinery emphasized that linking the current pump price drop to the 15 percent import tariff is inaccurate, noting:
“The claim that the reduction in pump prices was driven by the suspension of the 15 per cent import tariff is therefore incorrect. The import tariff had received the approval of His Excellency, President Bola Ahmed Tinubu, GCFR as far back as October 21 for immediate implementation.”
Dangote Petroleum Refinery added that despite the approved tariff not being implemented, it still reduced prices as part of its commitment to ensuring Nigerians benefit from domestic refining.
The company also highlighted its role in stabilizing the fuel market since operations began, stating that it has reduced prices on multiple occasions, absorbed logistics costs to maintain nationwide uniformity during peak seasons, and helped eliminate the recurrent artificial fuel scarcity associated with the end-of-year period.
Addressing claims by unnamed actors promoting imported fuel, the refinery noted:
“Contrary to repeated claims by certain interests, imported products which are often below acceptable standards have consistently been sold at higher pump prices than the premium-grade fuel supplied by Dangote Refinery. The continued importation of substandard fuel constitutes dumping, a harmful practice that undermines economic growth and industrial development.”
Dangote Petroleum Refinery reaffirmed its long-term commitment to Nigeria’s energy security despite what it described as short-term market distortions by speculative fuel importers.
“With a long-term investment exceeding $20 billion, we are steadfastly committed to Nigeria’s energy sector and remain unfazed by temporary policy shifts. Our focus is clear: to deliver reliable, high-quality, and competitively priced fuel to all Nigerians.”
The company urged media outlets and stakeholders to rely on verified information as public discussions on fuel pricing continue.
