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BY ABU-SATAR HAMED
LAGOS NIGERIA – Dangote Petroleum Refinery has debunked widespread media reports suggesting that the recent reduction in pump prices by oil marketers resulted from the Federal Government’s suspension of the 15 per cent import tariff on petroleum products.
In a statement e-signed by Mr. Sunday Esan, Head of Media Relations, Branding and Communications, and made available to StarTrend Int’l Magazine, the company described the circulating narrative as “entirely false, deliberately misleading, and inconsistent with actual market dynamics.”
According to the refinery, the real factor behind the pump price adjustment was its own reduction of PMS gantry and coastal prices on November 6, 2025. “The subsequent change in pump prices is now being wrongly attributed to a tariff decision in an attempt to distort the facts and misinform the public”, the statement said.
Dangote Refinery reiterated that it reduced its PMS gantry price from N877 to N828 per litre, representing a 5.6 per cent cut, while the coastal price dropped from N854 to N806 per litre. These reductions were widely published across major national media platforms and took effect well before marketers adjusted their pump prices.
The company further clarified that the import tariff in question had already received the approval of President Bola Ahmed Tinubu, GCFR, since October 21, 2025, for immediate implementation.
“Despite the non-implementation of the tariff, we reduced the price of our products. This decision aligns with our commitment to ensuring Nigerians enjoy the benefits of domestic refining”, the statement noted.
Dangote highlighted its consistent efforts to stabilize the market, including implementing more than seven price reductions since commencing operations, absorbing logistics costs during festive seasons to ensure uniform nationwide pricing, and helping eliminate the recurring artificial fuel scarcity usually associated with the ember months.
Refuting claims by some stakeholders, the refinery emphasized that imported petroleum products – often below acceptable standards – have consistently been sold at higher prices than Dangote’s premium-grade fuel. It described the continued importation of substandard products as harmful dumping, capable of undermining national industrial growth, just as it contributed to the collapse of Nigeria’s once-flourishing textile industry.
Reaffirming its long-term commitment to the nation, the refinery emphasized that it is not swayed by “short-term tactics of speculative importers” who move in and out of the market. With an investment exceeding $20 billion, the company said its focus remains delivering reliable, high-quality, competitively priced fuel to Nigerians.
The statement concluded by assuring that Dangote Petroleum Refinery will continue to operate with integrity, transparency, and dedication to Nigeria’s energy security. It also urged stakeholders and media organisations to rely on verified information in the interest of the public.
