Dangote Group Speaks on Petrol Price From Refinery After Marketers' N600/Litre Claim

• Dangote Industries has responded to claims from marketers that it has set the price of petrol at N600 per litre
• Independent marketers had suggested the price in a recent report, forcing the refinery to respond
• In a chat with Legit.ng, Anthony Chiejina, Group Chief Branding and Communications Officer, stressed that no price has been set

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Dangote Group has dismissed reports claiming that it has fixed the petrol price from its refinery at N600 per litre.

Anthony Chiejina, group chief branding and communications officer at Dangote Industries Limited, told Legit.ng that the quoted price was not from the refinery.

"It is not from us"

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A statement was later released to clarify the claims of a N600 per litre price.

Marketers' petrol price claim

Punch reported that the Independent Petroleum Marketers Association of Nigeria (IPMAN) hoped the Dangote refinery could price petrol from the refinery at N600 per litre.

The marketers said they believe that the 650,000-capacity refinery would crash the price of petrol like it with diesel.

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In a statement signed by Chijena, Dangote Group refuted the price circulated by IPMAN, stressing that the association is not a business partner of the refinery and does not have the authority to speak on its behalf regarding pricing matters.

The statement reads:

“Our attention has been drawn to headlines announcing ‘Marketers Project N600/litre for Dangote Petrol’ published in Punch Newspapers on Tuesday, August 13, 2024.

“We would like to clarify that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is not our business partner yet.

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“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.”

The refinery has urged the public to disregard speculative announcements and rely on its official communication channels for accurate information.

The statement concluded:

“We have our official channels through which we make our views known to our stakeholders."

Dangote Refinery sets date for petrol production

Legit.ng earlier reported that the Dangote Refinery pushed back petrol production from the facility due to crude oil supply challenges.

The facility initially set August 11 and 12 as the dates for the beginning of petrol production.

Sources say the refinery expects to pump its first petrol into the Nigerian market at the end of August.

Source: Legit.ng