Dangote Refinery claims credit for fuel pump price drop cuts
Dangote Petroleum Refinery has pushed back against reports suggesting that the recent drop in petrol pump prices was driven by a Federal Government decision to halt the 15 percent import tariff. The company said the claim misleads the public and ignores the pricing actions it took earlier in the month.
According to the refinery, the trigger for the latest market wide price adjustment was its own decision on November 6 to cut the ex-refinery cost of petrol. The gantry price moved from N877 to N828 per litre, a 5.6 percent reduction. The coastal price fell from N854 to N806.
Dangote said these changes were widely reported across major media outlets well before marketers reduced pump prices.
The company added that the tariff in question had already been approved by President Bola Tinubu on October 21 for immediate implementation.
Although the tariff has yet to take effect, Dangote said this did not influence its pricing decision. The refinery argued that its price cuts reflect an effort to pass on the gains of domestic refining rather than respond to policy shifts.
Dangote also defended the quality and competitiveness of its fuel, insisting that imported products, often below required standards, continue to sell at higher pump prices. It described the flow of poor-quality imports as a form of dumping that harms local industry and recalled how similar practices contributed to the collapse of Nigeria’s textile sector.
Since beginning operations, the refinery said it has lowered prices more than seven times, absorbed logistics costs during seasonal travel peaks, and eased the fuel shortages that typically emerge late in the year.
The company stressed that its long-term investment of more than 20 billion dollars shows its commitment to the sector, while short-term importers move in and out of the market depending on price swings.
Dangote said it will maintain its focus on supplying high grade, competitively priced fuel and called on media organizations to rely on verified information.
The company said responsible reporting is key to ensuring that Nigerians receive accurate updates on fuel pricing and supply.
