Dangote Refinery Claims Responsibility for Petrol Pump Price Reduction, Gives Reasons
- Dangote Petroleum Refinery took credit for the recent reduction in pump prices, arguing that it was due to its reduction of gantry price
- It said the decision to reduce the gantry price was independent of the government's initial announcement of a 15% tariff on imported refined petroleum products
- Dangote refinery said it is committed to serving Nigerians with affordable fuel, and it is not swayed by importers of substandard products
Dangote Petroleum Refinery has taken credit for the recent reduction in pump prices, debunking claims that the reduction was caused by the federal government’s reversal of the 15% import tariff on refined products.
In a statement issued on Monday, November 17, 2025, the company described the reports as misleading, arguing that the reduction in pump prices was due to the refinery’s reduction of gantry prices.
The company stressed that its decision to cut its gantry price was independent of the rescinded 15% tariff, and the price cut was implemented before the implementation of the tariff.
Source: Getty Images
It noted that the reversal of the tariff is being wrongly credited for the drop in pump prices, arguing that the claim is misleading and only denies the refinery credit.
Dangote Refinery explained that it lowered its PMS gantry price from N877 to N828 per litre, and adjusted its coastal price from N854 to N806 per litre.
The refinery emphasised that it has consistently reduced product prices since operations began, including absorbing logistics costs to maintain uniform pricing nationwide during festive seasons.
It noted that its price cuts, which have helped stabilise supply and end the fuel shortages, were a demonstration of social responsibility.
Part of the statement read:
“Since commencing operations, we have reduced prices on more than seven occasions, absorbed logistics costs to ensure nationwide price uniformity during festive periods, and played a major role in ending the perennial and artificial fuel scarcity typically associated with the ember months.”
Dangote refinery condemns importation
Meanwhile, the Dangote Refinery reiterated its disapproval of the continued importation of refined petroleum products, alleging that they are substandard products sold at higher prices.
It warned that the “dumping” of substandard fuel in Nigeria threatens local industry and economic development.
Source: Getty Images
It argued that unchecked importation killed the thriving textile industry, which was once a leading employer of labour in the country.
The refinery reiterated its commitment to delivering high-quality fuel to Nigerians, stressing that it is not threatened by “speculative importers” who exit the market at will.
With an investment exceeding $20 billion, the company said it has a long-term commitment to the country’s energy security.
FG reverses 15% petrol import tariff
Legit.ng reported that the federal government reversed its decision to impose a 15% tariff on the importation of refined petroleum products.
The controversial decision in the middle of a price war in the downstream petroleum sector was reversed less than two weeks after it was announced.
Local refiners have urged the federal government to review the tariff again and establish a pricing regime for crude oil in order to help them compete with importers.
Source: Legit.ng
