The management of Dangote Petroleum Refinery has refuted claims that its decision to reduce the price of its premium motor spirit (PMS), otherwise known as petrol, by 5.6 per cent was due to the recent suspension of the controversial 15 per cent import tariff on PMS and diesel.
In a statement, the crude oil refiner explained that the factor that prompted the price adjustment was its reduction of PMS gantry and coastal prices on November 6, claiming that the twist in the narrative was an attempt to distort the facts and misinform the public.
Recall that on November 6, 2025, Dangote Petroleum Refinery slashed its PMS gantry price from N877 to N828 per litre, representing a 5.6 per cent decrease, and its coastal price from N854 to N806 per litre.
“Since commencing operations, we have reduced prices on more than seven occasions, absorbed logistics costs to ensure nationwide price uniformity during festive periods, and played a major role in ending the perennial and artificial fuel scarcity typically associated with the ember months.
“Contrary to repeated claims by certain interests, imported products which are often below acceptable standards have consistently been sold at higher pump prices than the premium-grade fuel supplied by Dangote Refinery.
“The continued importation of substandard fuel constitutes dumping, a harmful practice that undermines economic growth and industrial development. Nigeria has witnessed the devastating consequences of such unchecked dumping before, including the collapse of the once-thriving textile industry, which was a major employer of labour,” the company said in a statement.
It promised to continue to operate with integrity, transparency, and an unwavering commitment to Nigeria’s energy security.
“We encourage all stakeholders and media organisations to report responsibly and rely on verified information in the interest of the Nigerian public,” it stated, assuring that it remains fully committed to supplying high-quality, internationally benchmarked petroleum products at competitive prices.
“Our operations continue to moderate prices in the market, ensuring Nigerian consumers receive genuine value for money.
“We are not moved by the short-term tactics of speculative importers who enter and exit the market at will. With a long-term investment exceeding $20 billion, we are steadfastly committed to Nigeria’s energy sector and remain unfazed by temporary policy shifts. Our focus is clear: to deliver reliable, high-quality, and competitively priced fuel to all Nigerians,” the organisation declared.