Mkpoikana Udoma
Port Harcourt — Dangote Petroleum Refinery has clarified that the recent reduction in petrol pump prices is the result of its own strategic price adjustments, dismissing claims that the Federal Government’s reversal of the 15 per cent import tariff triggered the change.
In a statement, the company said its reduction of PMS gantry and coastal prices on November 6 prompted marketers to lower pump prices, and that attributing the decline to the tariff was “deliberately misleading and inconsistent with actual market dynamics.”
“Our PMS gantry price was reduced from N877 to N828 per litre, a 5.6 per cent decrease, while our coastal price dropped from N854 to N806 per litre,” the refinery said.
“These adjustments were announced publicly across major media platforms and implemented before marketers changed their pump prices.”
Dangote Petroleum Refinery emphasized that the import tariff had already received presidential approval on October 21, but its implementation, or lack thereof, did not influence the refinery’s decision to lower prices.
“This decision aligns with our long-standing commitment to ensuring Nigerians enjoy the full benefits of domestic refining,” the statement added. “Since commencing operations, we have reduced prices on more than seven occasions, absorbed logistics costs for nationwide price uniformity, and helped end the perennial fuel scarcity during festive periods.”
The refinery also warned against the continued importation of substandard fuel, which it described as “dumping” that harms economic growth and industrial development. “Imported products are often sold at higher pump prices than our premium-grade fuel, undermining market fairness and consumer value,” the statement said.
Dangote Petroleum Refinery stressed that its $20 billion investment reflects a long-term commitment to Nigeria’s energy sector, adding: “We remain steadfast, unfazed by temporary policy shifts. Our focus is clear: deliver reliable, high-quality, and competitively priced fuel to all Nigerians.”
The company urged media outlets and stakeholders to rely on verified information and avoid spreading unsubstantiated claims that could mislead the public.
“Dangote Petroleum Refinery will continue to operate with integrity, transparency, and an unwavering commitment to Nigeria’s energy security,” the statement concluded.
