Dangote Refinery has clarified that the recent reduction in pump prices of Premium Motor Spirit (PMS) across Nigeria is due to a cut in its own refinery prices, not government policy changes.
In a statement on Monday, the refinery dismissed reports linking the price drop to the Federal Government’s suspension of the 15 per cent import tariff. It said the reduction was driven by a 5.6 per cent cut in its PMS gantry price from N877 to N828 per litre and a decrease in coastal price from N854 to N806 per litre, effective November 6.
“The claim that the reduction in pump prices was driven by the suspension of the 15 per cent import tariff is incorrect,” the statement read. “These adjustments were implemented before marketers revised pump prices and reflect our commitment to ensuring Nigerians benefit from domestic refining.”
The refinery highlighted its ongoing efforts to stabilize fuel supply and prices, noting that it has previously reduced PMS prices more than seven times since commencing operations. It also absorbs logistics costs to maintain nationwide price consistency, particularly during peak periods.
Dangote Refinery reaffirmed its commitment to supplying high-quality, competitively priced petroleum products while urging stakeholders and media outlets to report responsibly and rely on verified information.
