Dangote Petroleum Refinery has firmly denied reports suggesting that the recent drop in petrol prices was triggered by the Federal Government’s suspension of a 15% import tariff on fuel.

The company insisted that the reduction resulted solely from its own internal review of Premium Motor Spirit (PMS) pricing.

In a statement released on Monday, the refinery criticised the circulating claims as “false,” “misleading,” and intentionally crafted to misinform consumers.” It stressed that its price adjustment—implemented on November 6—occurred before fuel marketers lowered their pump prices, making any attempt to link both events inaccurate.

According to Dangote, the decision to reduce PMS prices was entirely market-driven. The refinery revealed that it brought down its PMS gantry price from ₦877 to ₦828 per litre, and its coastal price from ₦854 to ₦806 per litre, representing a 5.6% reduction that was widely reported at the time.

The company emphasised that the tariff suspension had no connection to its pricing decision.

While President Bola Tinubu approved the implementation of the 15% import levy on October 21, the refinery noted that it chose to lower prices regardless of the status of the policy, describing the move as part of its effort to “ease the burden on Nigerian consumers.”

Dangote also cautioned against what it described as attempts by “speculative importers” to distort public understanding of market realities. It warned that some imported products currently in circulation fall below acceptable quality standards and are still being sold at pump prices higher than those offered by the refinery, which maintains that its PMS is benchmarked to international quality specifications.

The company further argued that the influx of substandard imported fuel amounts to product dumping—an issue it claims has previously contributed to the collapse of several Nigerian industries, including the once-thriving textile sector.

Since commencing operations, the refinery said it has reduced PMS prices more than seven times and has absorbed significant logistics expenses to keep pump prices uniform nationwide.

These efforts, it noted, helped avert the perennial fuel scarcity often associated with the year’s final quarter.

Reaffirming its long-term vision, Dangote stated that neither temporary market disruptions nor shifting policy environments would derail its commitment to stabilising Nigeria’s domestic fuel supply chain.

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The company urged industry players and commentators to rely on verified information and refrain from amplifying narratives capable of creating confusion within the petroleum sector.