Dangote Refinery Clarifies: Price Cut Triggered Pump Price Reduction, Not Tariff Suspension
The Dangote Petroleum Refinery has dismissed recent reports suggesting that the reduction in pump prices by oil marketers was driven by the Federal Government’s suspension of the 15% import tariff on petroleum products. The company described the claims as false, misleading, and inconsistent with market realities.
In an official statement, the refinery clarified that the actual cause of the pump price adjustment was its own decision to reduce the Premium Motor Spirit (PMS) gantry and coastal prices on November 6, 2025, a move that preceded marketers’ downward adjustment of retail pump prices.
According to Dangote Refinery, its PMS gantry price was reduced from ₦877 to ₦828 per litre, representing a 5.6% decrease, while the coastal price was cut from ₦854 to ₦806 per litre. The refinery noted that this decision had already been publicly reported across major national media platforms such as The Punch, Vanguard, Daily Trust, The Sun, The Cable, and others before marketers reacted.
The company stressed that associating the recent pump price reduction with the suspension of the 15% import tariff is misleading, as the tariff approval had been signed by President Bola Ahmed Tinubu since October 21 for immediate implementation. Despite the tariff not being enforced, the refinery still went ahead with its price reduction “as a socially responsible company committed to ensuring Nigerians enjoy the full benefits of domestic refining.”
Since the commencement of operations, Dangote Refinery said it has implemented more than seven price reductions and absorbed logistics costs to ensure nationwide price uniformity during festive seasons. It also highlighted its significant role in ending the annual artificial fuel scarcity associated with the ember months.
The company further countered claims by certain stakeholders that imported PMS is cheaper, stressing that imported fuels—often of inferior quality—have consistently been sold at higher pump prices than the premium products supplied by the refinery. Dangote described the continuous importation of substandard products as “dumping”, warning that such practices threaten Nigeria’s industrial growth, citing the collapse of the once-thriving textile industry as a reference point.
With a long-term investment of over $20 billion, Dangote Petroleum Refinery reaffirmed its dedication to delivering high-quality, internationally benchmarked petroleum products at competitive prices. The refinery stated that it remains undisturbed by speculative importers or temporary policy shifts, emphasizing its commitment to Nigeria’s energy stability.
“Our focus is clear: to deliver reliable, high-quality, and competitively priced fuel to all Nigerians,” the statement read.
The company urged media organizations and stakeholders to report responsibly and rely on verified information in the interest of the public.
