Company insists its own price cuts — not government policy — drove recent reductions at filling stations
Our Reporter | Lagos
Dangote Petroleum Refinery has debunked widespread claims that the recent fall in petrol pump prices was caused by the Federal Government’s suspension of a proposed 15 per cent import tariff, stating emphatically that the reduction stemmed solely from its own downward review of Premium Motor Spirit (PMS) prices.
In a strongly worded statement issued on Monday, the refinery said attempts to link the market shift to tariff changes were “misleading”, “false”, and “deliberately crafted to confuse the public,” insisting that it had cut its ex-depot prices days before marketers adjusted pump rates.
According to the company, it reduced its PMS gantry price from ₦877 to ₦828 per litre and its coastal price from ₦854 to ₦806 per litre on November 6, 2025 — representing a 5.6 per cent price drop — a development widely reported across Nigerian and international media.
“The narrative suggesting that pump prices fell because the 15 per cent import tariff was reversed is entirely false,” the refinery said. “The factor that prompted the price adjustment was our own reduction of PMS gantry and coastal prices on November 6. Any attempt to attribute the subsequent pump price changes to tariff issues is an effort to misinform the public.”
Tariff Debate and Industry Pushback
The Federal Government had earlier approved a 15 per cent import duty on petrol, sparking strong opposition from independent marketers who warned that such a levy would inevitably raise pump prices. Although the tariff was approved for implementation on October 21 2025, it was never fully enforced before the recent suspension.
This suspension led some commentators to link the fall in pump prices to the policy reversal — a position Dangote Refinery described as inaccurate and driven by “speculative importers” seeking to distort market realities.
Dangote Highlights Market Impact Since Launch
The refinery, a $20 billion investment and Africa’s largest single-train facility, stressed that its presence has already changed the dynamics of Nigeria’s downstream sector. It said that since it commenced supply, it has adjusted fuel prices more than seven times, often absorbing transportation costs to maintain equilibrium across the country, particularly during festive periods.
It also noted that its entry into the petrol market has helped eliminate the familiar “ember month” scarcity often triggered by import delays, distribution bottlenecks, and panic buying.
“Contrary to insinuations, imported products — many of which do not meet acceptable standards — are being sold at higher pump prices than our internationally benchmarked products,” the statement said.
The refinery warned that continued importation of substandard fuel constitutes “dumping,” a practice it said has historically contributed to the collapse of key Nigerian industries, including the once-thriving textile sector.
Commitment to Stability in the Domestic Fuel Market
Dangote Refinery reiterated its long-term commitment to stabilising Nigeria’s fuel supply, saying it remains undeterred by policy fluctuations or short-term manoeuvring by traders who “enter and exit the market at will.”
“We will continue to operate with integrity, transparency, and an unwavering focus on energy security,” the company said. “Our goal remains to supply Nigerians with high-quality, competitively priced petroleum products.”
It urged marketers, industry players, and the general public to rely on verified information to prevent misinformation and ensure an orderly transition to a more domestically driven petroleum supply structure.
With the refinery expected to play a pivotal role in Nigeria’s fuel future, clarity over pricing mechanisms — and the dispelling of politically charged narratives — will likely remain central to public communication in the weeks ahead.