The Digest:
Dangote Petroleum Refinery has clarified that the recent reduction in petrol pump prices nationwide stems directly from its own strategic price cuts rather than any government policy intervention. According to Channels Television, the refinery implemented a 5.6% reduction in its gantry and coastal prices earlier this month, dismissing speculation about import tariff suspensions as the cause for market adjustments.
Key Points:
- Dangote Refinery reduced the PMS gantry price from N877 to N828 per litre
- The coastal price was cut from N854 to N806 per litre on November 6
- The company denied links to government import tariff policies
- Price adjustments were publicly announced before marketers followed suit
- Refinery called claims about tariff-driven reductions "misinformation"
- The import tariff approval from President Tinubu dates back to October 21
- The clarification aims to correct public perception about the pricing mechanism
Sources: Channels Television
