Dangote refinery: We didn’t reduce petrol price over 15% import duty reversal

Dangote Petroleum Refinery has debunked reports claiming that the recent reduction in petrol pump prices was over the Federal Government’s reversal of the 15 per cent import tariff.

Dangote refinery described the reports as “false, deliberately misleading, and inconsistent with actual market dynamics.”

The refinery, in a statement on Monday, November 17, 2025, disclosed that the factor responsible for the recent price adjustment was the company’s reduction of petrol gantry and coastal prices on November 6.

Dangote refinery reduced its petrol gantry price from N877 to N828 per litre, representing a 5.6 per cent decrease, and its coastal price from N854 to N806 per litre on November 6.

The refinery said these changes were publicly announced and implemented before marketers adjusted their pump prices.

It stated: “The claim that the reduction in pump prices was driven by the suspension of the 15 per cent import tariff is therefore incorrect. The import tariff had received the approval of President Bola Tinubu as far back as October 21 for immediate implementation.

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“Despite the non-implementation of the tariff, we reduced the price of our products. As a socially responsible company, this decision, which was not affected by whether the tariff was implemented or not, aligns with our long-standing commitment to ensuring Nigerians enjoy the full benefits of domestic refining.

“Contrary to repeated claims by certain interests, imported products which are often below acceptable standards have consistently been sold at higher pump prices than the premium-grade fuel supplied by Dangote Refinery.

“The continued importation of substandard fuel constitutes dumping, a harmful practice that undermines economic growth and industrial development. Nigeria has witnessed the devastating consequences of such unchecked dumping before, including the collapse of the once-thriving textile industry, which was a major employer of labour.”

Dangote refinery reiterated its commitment to supplying high-quality and internationally benchmarked petroleum products at competitive prices, adding: “Our operations continue to moderate prices in the market, ensuring Nigerian consumers receive genuine value for money.”

The Star