Dangote Petroleum Refinery has dismissed reports suggesting that recent petrol price reductions at the pump were influenced by the Federal Government’s suspension of the 15% import duty on petrol and diesel.
In a statement on Monday, the company described such claims as “false, misleading, and inconsistent with actual market realities.”
The refinery clarified that the only reason for the decrease in pump prices was its own 5.6% reduction in PMS gantry and coastal prices, effective from November 6. According to Dangote, the gantry price dropped from N877 to N828 per litre, while the coastal price fell from N854 to N806 per litre.
“These reductions were widely reported across major Nigerian media outlets and implemented ahead of marketers’ pump price adjustments,” the statement said. “Attributing the change to the non-implementation of the import tariff is incorrect.”
Dangote further highlighted that the 15% import tariff had already received presidential approval on October 21, and its implementation did not affect the company’s pricing decisions.
The company also criticised ongoing importation of substandard and higher-priced fuel, warning that such practices amount to “harmful dumping” that undermine local production, recalling similar challenges that once crippled Nigeria’s textile industry.
Dangote Petroleum Refinery reaffirmed its commitment to providing high-quality, competitively priced petroleum products and moderating market prices for consumers. The company urged stakeholders and media outlets to rely on verified information for the benefit of the Nigerian public.