Dangote Refinery clarifies 5.6 percent gantry price slash results in PMS price reduction for consumers

*The Dangote Petroleum Refinery clarifies that its continuing reduction of pump prices of petroleum products has caused reduction in fuel retail prices, not the Federal Government’s recent reversal of 15 percent fuel import tariff

Isola Moses | ConsumerConnect

The Dangote Petroleum Refinery, in Lagos, has said its attention is drawn to a series of misleading publications, claiming that the recent reduction in pump prices of petroleum products by oil marketers resulted from the Federal Government’s reversal of 15 percent fuel import tariff.

The Management of the Dangote Refinery Monday, November 17, 2025, stated that the narrative making the rounds in the public space “is entirely false, deliberately misleading, and inconsistent with actual market dynamics.”

The oil-refining company said: “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.

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“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.”

The statement also noted: “To reiterate, Dangote Petroleum Refinery, on November 6, reduced its PMS gantry price from N877 to N828 per litre, representing a 5.6 percent decrease, and its coastal price from N854 to N806 per litre.

“These changes were publicly announced across major media platforms, including, but not limited to The Punch, Vanguard, The Cable, Daily Trust, The Sun, The Street Journal, Petroleumprice.ng, New Telegraph, Business Hallmark, and several others, and were implemented well before marketers adjusted their pump prices.”

The company as well contended that the claim that the reduction in pump prices was driven by the suspension of the 15 percent import tariff is therefore, incorrect.

Dangote Refinery stated the import tariff had received the approval of President Bola Ahmed Tinubu, GCFR, as far back as October 21 for immediate implementation.

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“Despite the non-implementation of the tariff, we reduced the price of our products,” Dangote Refinery averred.

According to the company, as a socially responsible company, this decision, which was not affected by whether the tariff was implemented or not aligns with its long-standing commitment to ensuring Nigerian consumers enjoy the full benefits of domestic refining in the country.

It further stated that since the facility commenced operations, Dangote Refinery has reduced fuel prices on over seven occasions, and absorbed logistical costs to ensure nationwide price uniformity during festive periods.

The oil-refining company has also played a major role in ending the perennial and artificial fuel scarcity typically associated with the ember months.

The statement noted: “Contrary to repeated claims by certain interests, imported products which are often below acceptable standards have consistently been sold at higher pump prices than the premium-grade fuel supplied by Dangote Refinery.

“The continued importation of substandard fuel constitutes dumping, a harmful practice that undermines economic growth and industrial development.”

Nigeria has witnessed the devastating consequences of such unchecked dumping before, including the collapse of the once-thriving textile industry, which was a major employer of labour.

The Management of Dangote Petroleum Refinery assured it remains “fully committed to supplying high-quality, internationally benchmarked petroleum products at competitive prices.”

The company said: “Our operations continue to moderate prices in the market, ensuring Nigerian consumers receive genuine value for money.

“We are not moved by the short-term tactics of speculative importers who enter and exit the market at will.”

Dangote Refinery stated that with a long-term investment exceeding $20 billion, it is steadfastly committed to Nigeria’s energy sector and remain unfazed by temporary policy shifts.

The company reiterated: “Our focus is clear: to deliver reliable, high-quality, and competitively priced fuel to all Nigerians.

“Dangote Petroleum Refinery will continue to operate with integrity, transparency, and an unwavering commitment to Nigeria’s energy security.”

It added: “We encourage all stakeholders and media organisations to report responsibly and rely on verified information in the interest of the Nigerian public.”

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