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“All our partners, including Ardova, Heyden, and MRS Holdings, will offer petrol to Nigerians at a retail price of N970 per litre nationwide. We have absorbed the increased logistics costs to guarantee uniform pricing across the 36 states of the federation and the Federal Capital Territory (FCT). Dangote Refinery has absorbed approximately 50% of the cost increases in the international oil market. This is due to our unwavering commitment to quality and affordability, as well as the ownership of the refinery by Nigerians, which remain central to our mission. If Dangote Refinery were to pass on the entire increase in the price of crude oil to the market, the retail price of PMS would be approximately N1,150 to N1,200 per litre in some locations, compared to the current price of N970 per litre. Dangote said further: “We are committed to providing reliable, top-quality petrol to the Nigerian people at competitive prices…”
Increase in pump price not from us – Dangote
Dangote Petroleum Refinery management has clarified that the recent adjustment in its ex-depot price of Premium Motor Spirit (Petrol) is directly related to the significant increase in global crude oil prices.
In a statement signed by the company’s Group Chief Branding and Communication Officer Anthony Chiejina, it explained that “ as crude remains the primary input in the production of PMS, any fluctuation in its international price inevitably impacts the cost of the finished product”.