Dangote Group has issued a firm denial of recent reports suggesting that it plans to set the pump price of petrol at N600 per litre for sale to marketers.
This follows speculation that the Independent Petroleum Marketers Association of Nigeria (IPMAN) estimated the price of Premium Motor Spirit (PMS) from the Dangote Petroleum Refinery would be between N600 and N650 per litre.
Currently, the average price for PMS in Nigeria stands at N769.62, as reported by the National Bureau of Statistics. In response to the circulating reports, Anthony Chiejina, spokesperson for Dangote Group, stated on Tuesday, August 13, 2024, that these claims are inaccurate.
“Our attention has been drawn to headlines announcing ‘Marketers Project N600/litre for Dangote Petrol’ published in Punch Newspapers,” Chiejina said. “We would like to clarify that IPMAN is not our business partner yet. We have never discussed the price of Premium Motor Spirit (PMS) with them, and they have no mandate or authority to speak for us.”
Chiejina emphasised that the public should disregard speculative announcements and rely on official communications from the Dangote Group for accurate information. “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,” he added.
The clarification comes as anticipation builds for the Dangote refinery’s commencement of petrol supply this month. The refinery, a major development in Nigeria’s energy sector, is expected to significantly impact the market.
At full capacity, it will produce 650,000 barrels of oil per day and generate 27 million litres of diesel, 11 million litres of kerosene, and 9 million litres of jet fuel, sourcing crude from various Nigerian producers, including the state oil corporation.
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