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October 23, 2026

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Dangote speaks on ‘fixing’ of petrol price

Q3: Dangote refinery posts $22.5bn revenue, records $4.7bn profit as cash reserves hit $6.7bn
Dangote refinery

Dangote refinery has denied fixing petrol price at N600 per litre.

Dangote Group Chief Branding and Communications Officer, Mr. Anthony Chiejina, made the denial in a statement on Tuesday.

The company said it was reacting to a report in a newspaper (not FrontPage), that marketers projected N600 per litre for Dangote Petrol.

The company urged the public to desist from such speculative announcements, saying it had its official channels through which it made its views known to its stakeholders.

The company said the Independent Petroleum Marketers Association of Nigeria, IPMAN, was not its business partner yet.

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According to the company, it had never discussed price of Premium Motor Spirit, PMS, with IPMAN, and did not have its mandate or authority to speak for Dangote refinery, “either for good or with hidden transcript.”

The statement reads in full:

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

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

“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.”