Oil Price Hike Won’t Raise Petrol Cost — Dangote

Dangote Petroleum Refinery & Petrochemicals has announced a steady reduction in the pump price of Premium Motor Spirit (PMS), commonly referred to as petrol, despite ongoing volatility in the global crude oil market.

In an official statement issued by Anthony Chiejina, the company’s Group Chief Branding and Communications Officer, Dangote emphasized that this pricing approach is part of a broader commitment to economic stability and consumer relief, especially in the face of rising fuel costs nationwide.

The company reiterated that this strategy reflects its long-term vision to deliver accessible, dependable, and top-tier petroleum products to Nigerians, all while maintaining operational integrity and environmental sustainability.

The company stated, “Our approach aligns with the objectives of the Federal Government’s Nigeria First policy, which promotes the prioritisation of locally produced goods and services.

“By refining petroleum products domestically at the world’s largest single-train refinery, we are proud to make a substantial contribution to Nigeria’s energy security, foreign exchange savings, and overall economic resilience—aligning with President Bola Tinubu’s Renewed Hope Agenda, which is focused on addressing the nation’s economic challenges and improving the well-being of Nigerians.

“We are immensely grateful to His Excellency, President Bola Tinubu, for making this possible through the commendable Naira-for-Crude Initiative, which has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians.”

The company assures all stakeholders—consumers, partners, and the government—of its continuous dedication to operational excellence and national service.

“Dangote Petroleum Refinery remains committed to ensuring that the benefits of our local refining capacity are fully realised and enjoyed by the Nigerian populace. We will continue to prioritise affordability, quality, and national interest in every facet of our work.”

Dangote Petroleum Refinery has received a fresh supply of 146,000 metric tonnes of crude oil from international sources, with the cargo currently being offloaded by the vessel Hercules.

Industry sources confirmed that an additional shipment—carried by the vessel Sienna and containing 125,000 metric tonnes of crude—is expected to arrive shortly for processing at the facility.

Meanwhile, in a related development signaling the refinery’s expanding export operations, three vessels — Microft, STI Mighty, and PS New Orleans — have docked to lift consignments of jet fuel. The outbound cargo includes 10,000 metric tonnes, 44,000 metric tonnes, and another 44,000 metric tonnes respectively, destined for international markets from the 650,000 barrels-per-day integrated refining complex.

Africa Today News, New York