Dangote Petroleum Refutes Claims Linking Petrol Price Drop to Tariff Suspension

Dangote Petroleum Refinery has clarified that the recent reduction in petrol pump prices was solely due to its own downward adjustment of Premium Motor Spirit (PMS) prices, dismissing claims that the Federal Government’s suspension of a 15 per cent import tariff prompted the change.

In a statement released on Monday, the company explained that it lowered its gantry and coastal prices on November 6, well before marketers revised pump rates. It described reports linking the price drop to the tariff suspension as “misleading” and “inconsistent with the facts.” According to the refinery, marketers’ subsequent reduction in pump prices followed its adjustments, not government policy changes.

Dangote Petroleum detailed that its PMS gantry price fell from N877 to N828 per litre, and its coastal price dropped from N854 to N806 per litre—a 5.6 per cent decrease—well-documented by multiple media outlets prior to any adjustments at filling stations. The company emphasized that attributing the price cut to the import tariff reversal is false, warning that such narratives are designed to confuse the public and misrepresent market dynamics.

The $20 billion refinery further noted that its operations have consistently worked to stabilize fuel supply and prices in Nigeria, often absorbing logistics costs to prevent seasonal shortages. Dangote stressed that it remains committed to providing high-quality, competitively priced petroleum products, urging stakeholders and marketers to rely on verified information to support a transparent and domestically driven fuel supply system.