Dangote Refinery Clarifies: Price Cut, Not Reversal of 15% Tariff, Prompted Lower Pump Prices

Dangote Refinery has refuted recent media reports suggesting that the reduction in fuel pump prices was linked to the Federal Government’s reversal of the proposed 15% import tariff. According to the company, the price cut was precipitated solely by its own adjustments to PMS gantry and coastal prices on November 6, 2025.

The refinery clarified that the PMS gantry price was reduced from N877 to N828 per litre — a 5.6% decrease — while the coastal price dropped from N854 to N806 per litre. These adjustments were publicly announced across major media outlets, including The Punch, Vanguard, The Cable, Daily Trust, The Sun, Petroleumprice.ng, New Telegraph, and Business Hallmark, and were implemented well before marketers adjusted their pump prices.

Dangote Refinery emphasized that the import tariff had already been approved by President Bola Ahmed Tinubu on October 21, 2025, and the recent price adjustments were independent of government policy. The move underscores the refinery’s commitment to ensuring Nigerians benefit from domestic refining, providing high-quality fuel at competitive prices.

Since commencing operations, Dangote Refinery has reduced prices on multiple occasions, absorbed logistics costs to maintain nationwide price uniformity, and played a key role in eliminating the usual fuel scarcity during the ember months. The company also reiterated that imported fuels — often below international standards — are typically sold at higher pump prices than the premium-grade products it supplies.

With a long-term investment exceeding $20 billion, Dangote Refinery remains steadfast in its mission to deliver reliable, affordable, and high-quality petroleum products, operating with transparency, integrity, and unwavering commitment to Nigeria’s energy security.