Dangote Refinery Refutes Claims of Elevated Petrol Prices.

Dangote Refinery has dismissed claims that it is selling Premium Motor Spirit (PMS), or petrol, at prices of N1,015 and N1,028 per litre, labeling these reports as false. Oil marketers had recently stated that the petrol produced by the Dangote Petroleum Refinery was priced between N1,015 and N1,028 per litre, suggesting it might be more economical to import petrol, given that the landing cost from the international market was N978.01 per litre as of October 31, 2024....(CONTINUE READING)

Marketers are considering importing petrol to offer prices lower than those from Dangote and the Nigerian National Petroleum Company Limited (NNPCL). According to data from the Major Oil Marketers Association of Nigeria, as of October 31, 2024, the landing costs for petrol were N978.01 per litre, while diesel and aviation fuel were priced at N1,069.97 and N1,119.67 per litre, respectively.

Landing costs reflect the prices of imported fuels upon their arrival in Nigeria.Despite calls for greater transparency, Dangote Refinery has not released its petrol prices to the public. However, an anonymous source within major marketing circles revealed to The PUNCH that Dangote sells petrol in bulk at N1,015 per litre and at N1,028 for smaller amounts.

Additionally, new shipments of petroleum products have recently arrived at Nigerian ports. The source indicated that imported PMS is cheaper than Dangote’s prices and alleged that the company is trying to hinder government-approved fuel imports.In response, Tony Chiejina, Chief Corporate Communications Officer of Dangote Group, refuted the claims, labeling them as ‘fake news.’