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No Official Petrol Price Set for Refinery Output – Dangote

Published

4 months ago

Aug 14, 2024.

Dangote Limited has refuted claims that it has set the price of petrol from its Lagos-based refinery at ₦600 per litre.

This clarification was made in a statement issued on Tuesday night by the company’s Group Chief Branding and Communications Officer, Anthony Chiejina.

The denial comes after the Independent Petroleum Marketers Association of Nigeria (IPMAN) speculated that petrol from the Dangote Petroleum Refinery would be sold between ₦600 and ₦650 per litre once it hits the market.

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EKO HOT BLOG reports that IPMAN had suggested that, similar to its impact on diesel prices, the Dangote refinery could contribute to lowering petrol costs, provided it receives sufficient support, particularly in securing crude oil supplies.

However, Dangote Limited responded by stating that it has not set any price for petrol from its refinery and clarified that IPMAN is not yet a business partner of the organization.

The company emphasized that it has not discussed fuel pricing with the marketers, and they are not authorized to speak on behalf of Dangote.

The statement urged the public to disregard the speculative prices and await an official announcement from the company at the appropriate time.

It read:

“Our attention has been drawn to headlines announcing “Marketers Project N600/litre for Dangote Petrol” published in Punch Newspapers of Tuesday August 13,2024.

“We would like to clarify that Independent Petroleum Marketers Association of Nigeria (IPMAN) is not our business partner yet.

“We have never discussed price of Premium Motor Spirit (PMS) with them, and they have no mandate or authority to speak for us, either for good or with hidden transcript.

“We urge the public to desist from such speculative announcements.

“We have our official channels through which we make our views known to our stakeholders”.