Dangote Refinery clarifies pump price cut not linked to federal tariff reversal

Dangote Petroleum Refinery has dismissed claims that recent reductions in petrol pump prices were driven by the Federal Government’s suspension of the 15% import tariff.

In a statement on Monday, 17 November 2025, the refinery described the narrative linking tariff changes to the price adjustment as “entirely false, deliberately misleading, and inconsistent with market realities.”

The company said the real driver of the price reduction was its own adjustment of PMS gantry and coastal prices on 6 November, lowering the gantry price from ₦877 to ₦828 per litre and the coastal price from ₦854 to ₦806 per litre, representing a 5.6% decrease.

“These changes were publicly announced and implemented well before marketers adjusted their pump prices. The claim that the reduction was driven by the suspension of the 15% import tariff is therefore incorrect,” the refinery stated, adding that the import tariff had been approved by President Bola Tinubu on 21 October 2025.

Since commencing operations, Dangote Refinery has reduced fuel prices on more than seven occasions, absorbed logistics costs to ensure nationwide price uniformity, and mitigated fuel scarcity during peak periods. The company emphasised its commitment to supplying high-quality, premium-grade petroleum products at competitive prices.

Dangote Refinery also warned against the dangers of substandard fuel imports, which are sold at higher prices than locally refined products and have historically undermined Nigeria’s industrial growth. “Nigeria has witnessed the devastating consequences of unchecked dumping before, including the collapse of the textile industry,” the statement read.

The refinery reiterated its long-term commitment to Nigeria’s energy sector, with over $20 billion invested, highlighting its role in ensuring fuel security and affordability for consumers.