Dangote Petroleum Refinery & Petrochemicals has clarified that its decision to reduce the price of Premium Motor Spirit (PMS) commonly known as petrol is to reduce the burden on the masses.
According to a company release, signed by its Group Chief Branding and Communications Officer, Anthony Chiejina, he said despite the fluctuations in global crude oil prices, the decision to maintain price stability reflects its unwavering commitment to supporting the Nigerian economy, and alleviating the burden on consumers from the increase in fuel prices by maintaining price stability.
According to a statement sent to Channels Television on Monday, the refinery says its decision underscores its dedication to providing affordable, reliable, and high-quality petroleum products without compromising operational efficiency and sustainability.
“Our approach aligns with the objectives of the Federal Government’s Nigeria First policy, which promotes the prioritisation of locally-produced goods and services.
“By refining petroleum products domestically at the world’s largest single-train refinery, we are proud to make a substantial contribution to Nigeria’s energy security, foreign exchange savings, and overall economic resilience—aligning with President Bola Tinubu’s Renewed Hope Agenda, which is focused on addressing the nation’s economic challenges and improving the well-being of Nigerians.”
According to reports on Tuesday, Brent as of 8:43 AM WAT, fell to $65.15 per barrel or 39 cents (0.60%) from $65.54 at the close of business on Monday.Chiejina also referenced the Naira-for-Crude Initiative, which, he said, also contributed to low petrol prices at its Ibeju-Lekki facility.
“We are immensely grateful to His Excellency, President Bola Tinubu, for making this possible through the commendable Naira-for-Crude Initiative, which has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians.”
Channels Television reports that though Chiejina had denied the development during a telephone call last week, reports did the rounds that the refinery, for the second time in May, had slashed price to N825 per litre from ₦865.
The clarification by the refinery’s media team comes amid a purported row between Aliko Dangote and oil marketers, who have resumed product importation.
As of Tuesday, data from the Tanker Position Report says oil marketers resumed large-scale importation of petrol, with over 496.17 million litres of petrol brought into the country within nine days.
The report, a document that tracks oil tankers’ movement, obtained from Blue Sea Maritime, revealed that a total of 370,000 metric tonnes of petrol were discharged at various depots. These products berthed at sea ports between May 11 and 20, 2025.
Despite product importation by oil marketers, Dangote’s Chiejina assured all stakeholders—consumers, partners, and the government—of its continuous dedication to operational excellence and national service.
“Dangote Petroleum Refinery remains committed to ensuring that the benefits of our local refining capacity are fully realised and enjoyed by the Nigerian populace. We will continue to prioritise affordability, quality, and national interest in every facet of our work.”
