Zoyols Blog reports fresh tension between Dangote Refinery and petroleum marketers as both sides offer different explanations for the recent reduction in petrol prices across the country.
Fuel stations in Abuja have adjusted their pump prices to between N940 and N945 per litre, slightly lower than the previous N945 to N955 range. This shift comes at the same time the federal government paused its planned 15 per cent import duty on petrol and diesel, a policy that had sparked concerns among operators in the downstream sector.
Speaking with Zoyols Blog, the spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, linked the price reduction directly to the suspension of the proposed tariff. He argued that enforcing the 15 per cent duty would have distorted market forces, triggered indirect inflation, and pushed pump prices even higher.
Ukadike noted that marketers had raised their concerns earlier, stressing that a deregulated sector relies on demand and supply to keep prices stable. According to him, the government’s decision to stall the policy not only prevents fresh inflationary pressure but also creates a fairer competitive environment and supports full compliance with the PIA. He added that with global crude oil prices currently declining, petrol prices may drop even further.
Dangote Refinery, however, disagrees with that perspective. In a statement shared on its X handle, the refinery maintained that the latest price drop is tied to its own gantry price adjustment made earlier in the month. The company insisted that the reduction has no connection to the suspended import duty.
Zoyols Blog also gathered that the halted 15 per cent tariff would have placed the refinery at a market advantage, likely resulting in higher petrol prices for consumers.
