We have not fixed petrol price- Dangote Refinery

Dangote Refinery has denied fixing petrol prices at N600 per litre, as claimed by marketers early on Tuesday, August 13, 2024.

The company spokesperson, Anthony Chiejina, disclosed this in a statement on Tuesday evening.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) had claimed that the Dangote Petroleum Refinery will sell its Premium Motor Spirit, popularly called petrol, at N600 or N650/litre when it is finally released into the market.

IPMAN’s National Vice President, Hammed Fashola, said in an interview with Punch, that they believe that the Dangote refinery would crash the price of petrol as it did with diesel.

Fashola said the $20 billion refinery would bring down the cost of fuel if it got the needed support, especially as it has to do with crude supply.

Meanwhile, Chiejina in the statement pointed out that IPMAN is not yet a business partner of Dangote Refinery.

He added that the company has never discussed the price of Premium Motor Spirit (PMS) with IPMAN, and noted that
“they have no mandate or authority to speak for us, either for good or with hidden transcript.”

Dangote Refinery, however, urges the public to desist from making such speculative announcements, pointing out that
it has its own official channels for communicating with its stakeholders.

The statement 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.”