In a statement issued today, the refinery described such claims as “entirely false, deliberately misleading, and inconsistent with actual market dynamics.”

The refinery clarified that the real trigger for the latest drop in retail prices was its own proactive price reduction announced on November 6, 2025: Gantry (ex-depot) price for Premium Motor Spirit (PMS) was cut from ₦877 to ₦828 per litre (a 5.6% reduction).   

Coastal/loading price was reduced from ₦854 to ₦806 per litre. These cuts, the refinery said, were widely reported by major Nigerian media outlets including The Punch, Vanguard, Daily Trust, The Cable, and others, and took effect well before filling stations began lowering their pump prices.

“The claim that the reduction in pump prices was driven by the suspension of the 15 per cent import tariff is therefore incorrect,” the statement read. 

It further revealed that President Bola Tinubu had actually approved the 15% tariff on October 21 for immediate implementation, but the tariff has not yet been enforced.

Despite the non-implementation of the tariff, Dangote Refinery went ahead with its price reduction as part of its “social responsibility” to pass the full benefits of local refining to Nigerian consumers. 

The company highlighted that it has slashed petrol prices more than seven times since operations began and has repeatedly absorbed logistics costs to maintain uniform pricing nationwide, especially during festive periods.

The refinery also took a swipe at imported petrol, accusing importers of selling “substandard” fuel at higher prices than Dangote’s premium-grade product, describing the practice as “dumping” that harms local industry, drawing parallels with the collapse of Nigeria’s textile sector in the past.

Reaffirming its long-term commitment after investing over $20 billion, Dangote Refinery stated it remains “unfazed by temporary policy shifts or short-term tactics of speculative importers” and will continue supplying high-quality fuel at competitive prices.

The company urged media houses and the public to rely only on verified information and report responsibly.

As of today, many filling stations in Lagos, Abuja, and other major cities are selling petrol between ₦995 and ₦1,050 per litre, down from over ₦1,100 in some locations last week, a development marketers have quietly implemented following Dangote’s ex-depot price adjustment.