OPEYEMI OLOTU
Dangote Petroleum Refinery has debunked claims that the recent pump price reductions by oil marketers were triggered by the Federal Government’s suspension of the 15 per cent import tariff, describing the reports as “entirely false, deliberately misleading, and inconsistent with actual market dynamics.”
In a strongly worded statement, the refinery said the real catalyst for the nationwide price adjustment was its own decision to slash Premium Motor Spirit (PMS) gantry and coastal prices on November 6—days before marketers revised their pump prices. Dangote had lowered its PMS gantry price from N877 to N828 per litre (a 5.6% drop) and reduced the coastal price from N854 to N806 per litre. Both reductions were publicly announced across major media that same day.
According to the company, attempts to credit the pump price cuts to the suspended tariff are nothing more than a distortion of facts aimed at misleading the public. Dangote clarified that President Bola Ahmed Tinubu, GCFR, had already approved the 15 percent import tariff since October 21 for immediate implementation—even though it was yet to be executed. Despite this, the refinery said it independently cut prices to ease pressure on Nigerians.
Since commencing operations, Dangote noted that it has reduced fuel prices more than seven times, absorbed logistics costs to maintain uniform nationwide pricing during festive periods, and helped eliminate the traditional “ember-month” scarcity engineered by market speculators.
Countering claims by certain interest groups, the refinery emphasised that imported PMS—often of inferior quality—still sells at higher pump prices compared with its own premium-grade product. It warned that the continued influx of such imports amounts to market dumping, a dangerous path that once crippled Nigeria’s textile industry.
Unfazed by what it called “short-term tactics of speculative importers,” Dangote restated its long-term commitment to transforming Nigeria’s energy sector. With an investment exceeding $20 billion, the refinery says its goal remains consistent: supplying Nigerians with high-quality, competitively priced, globally benchmarked fuel.
The company urged stakeholders and media organisations to prioritise responsible reporting and rely only on verified information, reaffirming its commitment to transparency, integrity, and Nigeria’s long-term energy security.
