Recently, there has been a lot of talk about the price of petrol from the Dangote Refinery. Some reports claimed that the refinery was selling petrol at a rate between N1,015 and N1,028 per litre. However, Dangote Refinery quickly denied these claims, calling them “fake news” on their official X (formerly Twitter) account on November 2.

The reports started when some oil marketers said that buying petrol from Dangote Refinery would be more expensive than importing it from international markets. According to them, the landing cost of imported petrol was around N978.01 per litre as of October 31, 2024. They suggested that it might make more sense to import fuel if the refinery prices stayed this high.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) also commented on the matter. Yakubu Suleiman, the National Assistant Secretary of IPMAN, spoke about it on Arise Television’s Morning Show. He explained that IPMAN members will choose suppliers offering the best prices so that they can still make a profit and help Nigerians cope with rising costs.

Dangote Refinery’s response on social media was clear: the information about their high fuel prices is false. By addressing this, the Dangote Group wants to clear up any confusion for its customers and the public. They aim to reassure people that their pricing is fair and transparent, aligning with their commitment to support Nigeria’s fuel needs.

This back-and-forth highlights the current challenges in Nigeria’s fuel market, where affordability and accessibility are crucial for citizens. IPMAN’s focus on finding lower-cost fuel sources is a reminder of the effort to keep fuel prices manageable for Nigerians amidst economic challenges.