By Ayomide Otitoju
Dangote Petroleum Refinery and Petrochemicals has reiterated its commitment to reducing the price of Premium Motor Spirit (PMS), commonly known as petrol, despite fluctuations in global crude oil prices.
In a statement signed by Anthony Chiejina, Group Chief Branding and Communications Officer of the Dangote Group, the company emphasised its resolve to support the Nigerian economy by providing affordable and high-quality petroleum products.
“This decision reflects our unwavering commitment to ease the financial burden on Nigerians and maintain price stability,” Chiejina said. “We are proud to contribute to Nigeria’s energy security and economic resilience by refining locally at the world’s largest single-train refinery.”
The company stated that its strategy aligns with the Federal Government’s Nigeria First policy and supports President Bola Tinubu’s Renewed Hope Agenda, which focuses on local production and economic revival.
Recent market checks show global Brent crude prices dipped to $65.15 per barrel as of 8:43 AM (WAT) on Tuesday, a 0.60% drop from the previous day’s close.
Chiejina also credited the Federal Government’s Naira-for-Crude initiative for helping the refinery maintain lower pump prices. “We thank President Bola Tinubu for enabling us to reduce product prices through this commendable initiative,” he added.
Although Chiejina denied any official price cut in a phone call with Channels Television, reports have emerged that the refinery reduced PMS prices for the second time in May — dropping to ₦825 per litre from ₦865.
The clarification from the refinery comes amid reports of a growing rift between Dangote and independent oil marketers, who have resumed large-scale petrol importation.
According to the Tanker Position Report from Blue Sea Maritime, over 496 million litres of petrol were imported between May 11 and 20, with 370,000 metric tonnes discharged at various depots nationwide.
Despite the re-entry of importers, Dangote Petroleum Refinery assured stakeholders — including consumers and the government — of its ongoing commitment to affordability and operational excellence.
“We will continue to prioritise quality, affordability, and national interest to ensure the benefits of our local refining capacity reach all Nigerians,” the statement concluded.
