Dangote explains fuel price drop, warns against misinformation

Dangote Petroleum Refinery says the recent fall in fuel prices happened because of the refinery’s own adjustments, not because the government delayed a 15% fuel import tariff.

In a statement on its X account on Monday, the company said the price changes came from their own reduction of PMS (petrol) gantry and coastal prices on November 6. The refinery said linking the drop to the tariff is wrong and misleading.

Dangote Refinery reduced the PMS gantry price from N877 to N828 per litre (a 5.6% decrease) and the coastal price from N854 to N806 per litre.

The company emphasized that the tariff had already been approved by President Bola Tinubu on October 21, 2025.

“Even without the tariff in place, we lowered our fuel prices. This shows our commitment to helping Nigerians benefit from local refining,” the statement said.

The refinery also said it has cut fuel prices more than seven times, absorbed logistics costs to keep prices uniform across the country during festive periods, and helped end artificial fuel shortages common in the “ember months.”

Dangote Refinery criticized the ongoing import of low-quality petroleum sold at higher prices than locally refined fuel, calling it dumping that hurts the economy and industrial growth.

The company concluded by promising to continue operating transparently and responsibly, and urged the media and stakeholders to report verified information for the benefit of Nigerians.