Dangote Refinery has stated that the recent reduction in the pump price of premium motor spirit (PMS) across the country is a direct result of its own price review—not the federal government’s suspension of the 15 per cent import duty.
In a statement issued on Monday, the refinery clarified that its decision to lower the PMS gantry price from N877 to N828 per litre was what triggered the nationwide adjustments by petroleum marketers.
“Dangote Petroleum Refinery clarifies that the recent reduction in PMS pump prices by oil marketers was a direct response to our price cut on November 6. It was not caused by the temporary reversal of the 15% import tariff.
“We reduced our PMS gantry price from N877 to N828 and coastal price from N854 to N806, and marketers adjusted afterwards,” the company said.
However, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has attributed the drop in pump price to reduced tension in the downstream sector following the federal government’s suspension of the 15 per cent import tariff.
The tariff waiver, originally introduced to support Dangote Refinery, was temporarily lifted as part of measures to stabilise the market.
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