Dangote Refinery Rejects Link Between Petrol Price Drop and Tariff Suspension

Lagos, Nigeria – Dangote Petroleum Refinery has distanced itself from claims suggesting that the recent decline in petrol prices was triggered by the Nigerian government’s suspension of the 15% import tariff. The refinery announced that the price reduction was solely a strategic move by the company itself, independent of government policy changes.

In an official statement, Dangote Refinery clarified that it had reduced its ex-depot prices on November 6, 2025, well before oil marketers adjusted their pump prices. The company emphasized that the widespread reports linking the price decrease to the tariff suspension are misleading and do not reflect the actual market dynamics.

The company reported that it lowered its Premium Motor Spirit (PMS) prices to N828 per litre at the gantry from the previous N877, and from N854 to N806 per litre at the coastal level — a 5.6% reduction. These changes were publicly announced across multiple media platforms, including The Punch, Vanguard, and Daily Trust, before any pump price adjustments by marketers.

“Any assertions that the recent petrol price drop was due to the reversal of the 15% import duty are entirely false,” the refinery stated. The company stressed that its decision to cut fuel prices was part of its ongoing efforts to ease the burden on Nigerian consumers and improve energy security, regardless of government policy delays.

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The Nigerian government had earlier approved the 15% import duty on petrol, but the policy was suspended last week following warnings from stakeholders about potential price hikes. Critics, however, argued that the policy and its suspension contributed to market instability and consumer hardship ​.

Dangote further condemned the practice of misrepresenting market realities, warning that such misinformation could destabilize Nigeria’s nascent domestic fuel supply efforts. The refinery reaffirmed its commitment to transparency and to supplying high-quality, affordable petroleum products across Nigeria.