Dangote Refinery has refuted claims that it has set the price of Premium Motor Spirit (PMS), commonly known as petrol, at N600 per litre. The denial comes in response to a report from a major national newspaper on August 13, 2024, which suggested that the Lagos-based private refinery, owned by Africa’s wealthiest individual, Aliko Dangote, intended to price the fuel at that rate for marketers.
In a statement issued on Tuesday, Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Group, clarified that the company had not established any such price. Chiejina stated, “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.”
The statement continued, “We have never discussed the price of Premium Motor Spirit (PMS) with them, and they have no mandate or authority to speak on our behalf. We urge the public to refrain from such speculative announcements. We have official channels for communicating our positions to stakeholders.”
Dangote Refinery is expected to commence fuel distribution this month, contingent upon crude oil availability. Currently, petrol prices at various stations range from N650 to N820 per litre, with Nigerian National Petroleum Company (NNPC) retail stations offering the lowest price at N568 per litre.
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