By Joshua Tosin Ogunsakin 
Dangote Refinery has explained that the recent reduction in Premium Motor Spirit (PMS) pump prices by petroleum marketers across Nigeria was a direct result of its own price adjustment, dismissing claims that the federal government’s suspension of the 15 per cent import duty on fuel was responsible.
In a statement on Monday, the refinery clarified that marketers lowered pump prices after it reduced PMS gantry and coastal prices.
“Dangote Petroleum Refinery clarifies that the recent reduction in PMS pump prices by oil marketers was a direct response to our price cut on November 6. It was not caused by the temporary reversal of the 15% import tariff.
“We reduced our PMS gantry price from N877 to N828 and coastal price from N854 to N806, and marketers adjusted afterwards,” the company said.
However, the Independent Petroleum Marketers Association of Nigeria (IPMAN) offered a different perspective. Its spokesperson attributed the fall in petrol prices to the federal government’s suspension of the 15 per cent import duty, arguing that the policy eased pressure in the downstream sector.