Dangote Refinery has said that the recent reduction in petrol price across Nigeria is because the company reduced its own selling price.
In a statement on Monday, the refinery explained that the drop has nothing to do with the Federal Government’s suspension of the 15% import duty on fuel.
According to the company, it reduced its PMS gantry price from N877 to N828 per litre, and the coastal price from N854 to N806. After this change, marketers also reduced their pump prices.
But the spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN) said the price cut was partly due to reduced pressure in the downstream sector after the government paused the 15% import duty on petrol and diesel.
The Federal Government recently suspended the duty to support fuel supply across the country.
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