Dangote Refinery Denies Government's Role in Petrol Price Cut, Cites International Market Forces

Dangote Refinery has refuted claims linking the recent reduction in petrol pump prices to the government's suspension of a 15% import tariff. The refinery clarified that the price adjustment on November 6 was solely influenced by international market dynamics, with a coastal price reduction of 5.6%.

Despite reports suggesting President Bola Tinubu approved the tariff implementation on October 21, the refinery asserts it was not implemented. Dangote aims to ease the burden on Nigerian consumers and maintain nationwide price uniformity by absorbing logistical costs.

The company urges market players to rely on verified information to prevent destabilizing Nigeria's fuel supply.