The Dangote Petroleum Refinery has clarified that the recent drop in petrol pump prices across the country was driven solely by its internal price adjustment, dismissing speculation that the reduction resulted from a government policy decision. In a statement issued to The Flagship, the refinery explained that the price change was triggered by a 5.6 […]
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The Dangote Petroleum Refinery has clarified that the recent drop in petrol pump prices across the country was driven solely by its internal price adjustment, dismissing speculation that the reduction resulted from a government policy decision.
In a statement issued to The Flagship, the refinery explained that the price change was triggered by a 5.6 percent reduction in the refinery’s ex-depot prices for Premium Motor Spirit (PMS), not by the Federal Government’s suspension of 15 percent import tariffs.
“For the avoidance of doubt, the factor that prompted the price adjustment was our own reduction of PMS gantry and coastal prices on November 6,” the refinery said. “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.”
According to the company, its gantry price was cut from ₦877 to ₦828 per litre, while the coastal price dropped from ₦854 to ₦806 per litre.
Dangote Refinery emphasised that the adjustment reflects its pricing strategy and market realities, noting that any attempt to link the nationwide pump price reduction to government tariff suspensions is inaccurate.
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