Dangote Refinery has denied allegations that it is selling Premium Motor Spirit (PMS), commonly known as petrol, at prices between N1,015 and N1,028 per litre, describing such claims as “fake news.”
On Thursday, oil marketers reported that the price of petrol produced by Dangote Petroleum Refinery was between N1,015 and N1,028 per litre. They noted it might be more economical to import petrol, with the landing cost as of October 31, 2024, reported at N978.01 per litre.
In response, Tony Chiejina, Chief Corporate Communications Officer of Dangote Group, dismissed the report as “fake news.”
According to data released by the Major Oil Marketers Association of Nigeria, the landing cost of diesel was N1,069.97 per litre, while aviation fuel stood at N1,119.67 per litre.
An anonymous major marketer stated that the refinery currently sells to bulk buyers at N1,015 per litre and to smaller buyers at N1,028 per litre. He explained, “Dangote is selling to bulk buyers at N1,015 per litre, but to marketers who are not buying in bulk, the refinery is selling at N1,028 per litre.”
Meanwhile, Dr. Joseph Obele, Publicity Secretary of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), suggested that Dangote’s petrol might be priced higher due to the refinery processing imported crude oil.
