Petrol prices across Nigeria recently fell, but Dangote Refinery insists it deserves full credit.
The company clarified that it triggered the drop by lowering ex-depot costs on November 6, not the government’s temporary suspension of the 15% import tariff.
Dangote Takes Charge Of Petrol Prices Drop
In a statement on Monday, the refinery said, “Dangote Petroleum Refinery clarifies that the recent reduction in PMS pump prices by oil marketers resulted directly from our price cut on November 6.
It did not occur because of the temporary reversal of the 15% import tariff.”
Market Reacts Quickly
Specifically, the company cut the ex-refinery price of Premium Motor Spirit (PMS) from ₦877 to ₦828 per litre at the gantry and from ₦854 to ₦806 at the coast.
Read Also: 15% Import Duty Suspension Divides Marketers, Experts
Consequently, oil marketers quickly adjusted pump prices nationwide.
The clarification comes amid speculation that government policy caused the drop.
However, Dangote emphasised that its pricing decision drove the market, demonstrating the power of domestic refining to shape fuel costs.
Commitment To Consumers
Moreover, the refinery pledged to continue supplying high-quality, competitively priced fuel, ensuring Nigerians enjoy the full benefits of locally refined products.
As production expands, the company indicated that further price adjustments could follow, signalling that Dangote remains firmly in control of the country’s fuel pricing.
