Dangote Refinery Slashes Petrol Price To Appreciate Nigerians
In a move it described as appreciating Nigerians, Dangote Petroleum Refinery has reduced the price of its Premium Motor Spirit (PMS), popularly known as Petrol to N970 per litre for marketers.
The Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, who announced this on Sunday, said the price was slashed from N990/litre to N970/litre “to appreciate the good people of Nigeria”.
Amid rising tension over the current fuel price situation in the country, the latest downward adjustment is coming as part of the refinery’s effort to support Nigerian consumers and marketers, with Chiejina’s statement saying; “As the year comes to an end, this is our way of appreciating the good people of Nigeria for their unwavering support in making the Refinery a dream come true.
“In addition, this is to thank the government for their support, as this will complement the measures put in place to encourage domestic enterprise for our collective well-being.”
According to the Group’s Spokesperson; “While the refinery would not compromise on the quality of its petroleum products, we assure you of the best quality products that are environmentally friendly and sustainable.
“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”
Since commencing full deregulation of activities in Nigeria’s petroleum sector by the President Bola Tinubu-led administration, this is the first time that the price of fuel has been reduced in the country.
Forefront News notes that the rice reduction is also coming on the heels of recent altercations between Dangote Refinery and some marketers over the pricing of petrol nationwide.
Faulting the refinery’s initial price of N990 per litre, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) insisted that PMS’ importation PMS could be more cost-effective and demanded competition in the downstream sector to avoid monopolistic practices by any individual or group.
In his argument, PETROAN’s National Public Relations Officer, Joseph Obele, said; “The pricing from Dangote Refinery at N990 was inconsiderate, and we have finalized arrangements with foreign refinery partners to import high-quality PMS at a lower cost”
While also denying allegations made by Dangote Refinery that PETROAN was planning to import substandard products into the country, Obele maintained that all imported products would meet regulatory standards.
However, Dangote Group countered these claims, asserting that significantly lower prices often indicate compromises in product quality or connections to oil theft. The company maintained that its products adhere to global regulatory standards, offering premium unleaded gasoline with 10ppm sulfur—a far superior quality compared to the 1,000ppm sulfur typically found in many imported fuels.
Responding to PETROAN’s position, Dangote Group said significantly lower prices often suggest compromises in product quality or possible connections to oil theft.
Furthermore, the company emphasized that its products meet global regulatory standards, offering premium unleaded gasoline with 10 parts per million (ppm) sulfur, stressing that this represents a much higher quality compared to the 1,000 ppm sulfur commonly found in many imported fuels.
