Addressing recent reports, the management of the Dangote petroleum refinery has confirmed that they have set a fixed price for Premium Motor Spirit, commonly known as petrol.
In a statement released on Tuesday, Anthony Chiejina, the Group’s Chief Branding and Communications Officer, responded to claims made in an article titled “Marketers Project N600/litre for Dangote Petrol.”
Earlier speculations by Independent petroleum marketers in Nigeria suggested that the Dangote refinery might sell petrol at N600 or N650/litre once it hits the market.
The Independent Petroleum Marketers Association of Nigeria expressed optimism that the Dangote refinery would replicate the price reduction seen with diesel in the petrol market.
An interview with IPMAN National Vice President, Hammed Fashola, highlighted expectations that the $20bn refinery could lower fuel costs, particularly if it receives adequate support in terms of crude supply.
Fashola mentioned that the Nigerian National Petroleum Company Limited, the main petrol importer, sells to marketers at N570/litre. However, IPMAN members often purchase from private depot owners at prices exceeding N700.
Contrary to the marketers’ projections, the Dangote refinery clarified that it has no business association with IPMAN and has not engaged in any discussions regarding petrol pricing with them.
The refinery dismissed the speculation and urged the public to disregard such claims, emphasizing that they have official communication channels for engaging with stakeholders.
The statement emphasized, “We have noted the headlines on ‘Marketers Project N600/litre for Dangote Petrol’ published in NewsNows on Tuesday, August 13, 2024.
“It is important to clarify that the Independent Petroleum Marketers Association of Nigeria is not currently our business partner. We have not deliberated on Premium Motor Spirit pricing with them, and they are not authorized to speak on our behalf in any capacity.
“We encourage the public to avoid baseless announcements and trust in our official communication channels for accurate information dissemination.”