The Dangote Petroleum Refinery has firmly denied any involvement in setting the price for Premium Motor Spirit (PMS), commonly known as petrol. This statement comes in response to recent media reports suggesting that the refinery’s petrol could be priced between N600 and N650 per litre.
In a press release issued on Tuesday, Anthony Chiejina, the Group’s Chief Branding and Communications Officer, clarified that the Dangote refinery has not yet determined the pricing for petrol. The clarification was in response to a report by The PUNCH, which cited independent petroleum marketers projecting a price range for the refinery’s petrol.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has voiced hopes that the refinery will significantly reduce fuel prices, similar to its impact on diesel.
IPMAN National Vice President, Hammed Fashola, highlighted that while the Nigerian National Petroleum Company Limited (NNPCL) sells petrol to marketers at N570 per litre, many members of IPMAN are purchasing fuel from private depot owners at prices exceeding N700 per litre.
However, the Dangote refinery stated that it has no formal agreements or price discussions with IPMAN and emphasized that the association does not have the authority to speak on its behalf.
The refinery’s statement urged the public to disregard the speculative reports and await official communications through its established channels.
“We would like to clarify that the Independent Petroleum Marketers Association of Nigeria is not our business partner yet. We have never discussed the price of Premium Motor Spirit with them, and they have no mandate or authority to speak for us,” the statement read.