Dangote Petroleum Refinery has debunked reports suggesting that recent reductions in petrol pump prices were due to the Federal Government?s suspension of the 15% import duty on petrol and diesel.

The company described the claims as false, misleading, and inconsistent with actual market realities.

The refinery explained that the only factor behind the downward adjustment in pump prices was its 5.6% reduction in PMS gantry and coastal prices on November 6.

It would be recalled that Dangote cut its gantry price from N877 to N828 per litre and its coastal price from N854 to N806 per litre.

Dangote in the statement noted that the move was widely reported across major Nigerian media outlets.

These reductions, implemented ahead of marketers? pump price adjustments, are now being wrongly attributed to the non-implementation of the import tariff, it stated.

Dangote further clarified that the 15% import tariff had already received presidential approval on October 21, and its implementation status had no influence on the company?s pricing decisions.

The company also criticized the continued importation of substandard, higher-priced fuel, describing it as harmful dumping that undermines local industry?recalling similar trends that once crippled Nigeria?s textile sector.

Dangote Petroleum Refinery reiterated its commitment to supplying high-quality, competitively priced petroleum products and moderating market prices.

The company urged stakeholders and the media to rely on verified, factual information in the interest of the Nigerian public. (DAILY TRUST)

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