Dangote Petroleum Refinery has issued a detailed clarification stating that the recent reduction in Premium Motor Spirit (PMS) pump prices by oil marketers across Nigeria was a direct consequence of the refinery’s decision to cut its ex-depot fuel prices on November 6. The company emphasized that the adjustment was not connected to the temporary suspension of the 15 percent import tariff, contrary to widespread speculation.
In its statement, the refinery explained that its PMS gantry price was lowered from N877 to N828 per litre, while the coastal price was reduced from N854 to N806 per litre. These reductions, the company noted, immediately influenced market dynamics and prompted marketers nationwide to adjust their pump prices in response.
Dangote Petroleum Refinery stated that the timing and scale of marketers’ adjustments closely aligned with its pricing decision. According to the company, this alignment demonstrates that the domestic supply from the refinery, rather than any shift in import tariff policy, was responsible for the nationwide pump price decline.
The company reiterated its commitment to stabilizing the Nigerian fuel market by providing high-quality and competitively priced petroleum products. It added that its operations aim to ensure Nigerians fully benefit from domestic refining, including reduced dependence on fuel imports, improved availability of products, and more consistent pricing.
Dangote Group also affirmed its resolve to maintain transparent pricing practices and to support national economic objectives through reliable local production.
