Dangote Refinery Debunks Fuel Price Hike Rumors

• The Dangote Group refuted claims of a petrol price hike to N600 per litre, stating no discussions occurred with IPMAN
• The Group emphasized that IPMAN is not a business partner and urged the public to disregard speculative announcements regarding petrol pricing

The Dangote Group has officially denied reports suggesting a planned increase in petrol prices to N600 per litre, attributed to the Independent Petroleum Marketers Association of Nigeria (IPMAN).

In a statement released on Tuesday, Anthony Chiejina, the Group Chief Branding and Communications Officer, clarified that IPMAN is not a business partner of Dangote Refinery and has no authority to speak on the company’s behalf. Chiejina emphasized that no discussions regarding petrol prices have occurred between Dangote Refinery and IPMAN, urging the public to disregard any speculative announcements.

The statement further assured stakeholders that official updates or statements would be communicated through the appropriate channels.

Official Statement:

“We have not fixed Petrol Price

Our attention has been drawn to the headlines announcing ‘Marketers Project N600/litre for Dangote Petrol,’ which were 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. We have never discussed the 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 refrain from such speculative announcements. We have our official channels through which we communicate our views to our stakeholders.”