The Dangote Petroleum Refinery has dismissed claims linking the recent drop in pump prices to a supposed reversal of the 15 per cent import tariff by the Federal Government, saying the reports misrepresent the actual factors behind the adjustment.

In a statement, the company said the narrative circulating in some quarters is inaccurate, stressing that the lower prices seen at filling stations stem from its own downward review of petrol ex-depot and coastal prices earlier this month.

According to the refinery, it reduced the ex-depot price of Premium Motor Spirit (PMS) on November 6 from N877 to N828 per litre, while the coastal price was lowered from N854 to N806 per litre. These changes, it noted, were publicly communicated before fuel marketers made corresponding changes at the pump.

Dangote Refinery added that the 15 per cent import tariff, approved by President Bola Tinubu on October 21, has not yet taken effect, and therefore could not have influenced the adjustments made by retail marketers.

The company emphasized that its decision to lower fuel prices was driven by its commitment to supporting Nigerian consumers and strengthening the benefits of domestic refining. It said it has consistently moderated prices, absorbed logistics costs during peak travel periods, and played a role in preventing fuel scarcity associated with the end-of-year season.

It also cautioned that continued importation of lower-grade petroleum products poses a risk to Nigeria’s industrial growth, arguing that such practices amount to dumping and could undermine local refining efforts. The refinery maintained that imported fuels often cost more than its premium-grade products despite being below required quality standards.

Reaffirming its position, Dangote Refinery said it remains focused on supplying high-quality petroleum products priced in line with global benchmarks, with the aim of ensuring Nigerians get fair value amid ongoing market changes.