Dangote Refinery has dismissed claims of selling petrol at N1,015 to N1,028 per litre as "fake news." The refinery's response follows accusations from oil marketers, who suggested importing petrol instead, citing lower landing costs.
On Saturday, Dangote Refinery strongly refuted claims that it sells petrol at prices ranging from N1,015 to N1,028 per litre. This allegation emerged from some oil marketers who argued that it would be more cost-effective to import petrol, given that the landing cost was reported at N978.01 per litre as of October 31, 2024. Responding to these claims, Dangote Group took to its social media platform, labeling the assertions as “fake news.”
The Independent Petroleum Marketers Association of Nigeria (IPMAN) previously suggested that the prices at Dangote Refinery were higher than competitors, prompting criticism from industry insiders. Yakubu Suleiman, the National Assistant Secretary of IPMAN, emphasized the necessity for marketers to seek lower prices to maximize profit, ultimately advocating for the interests of Nigerian consumers.
The ongoing pricing dispute underscores the complexities of Nigeria's fuel market and the ongoing tensions between domestic production and imported fuels.
