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15% tariff policy didn’t influence petrol price drop — Dangote Refinery
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By Francesca Hangeior
Dangote Petroleum Refinery has dismissed claims that the recent fall in petrol pump prices was triggered by the Federal Government’s suspension of a 15 per cent import tariff, insisting the adjustment was driven solely by its own downward review of Premium Motor Spirit prices.
The company said it had reduced its gantry and coastal prices on November 6, well before marketers altered pump rates, adding that linking the market changes to the tariff controversy was “misleading” and “inconsistent with the facts.”
In a statement issued by the company on Monday, the refinery clarified that marketers’ decision to lower pump prices followed its downward review of PMS gantry and coastal prices.
It described the circulating reports as “misleading” and “deliberately crafted to confuse the public,” warning that ongoing attempts to misrepresent market realities were unhelpful to the downstream sector.
The statement read, “The attention of Dangote Petroleum Refinery has been drawn to a series of misleading publications claiming that the recent reduction in pump prices by oil marketers is a consequence of the Federal Government’s reversal of the 15 per cent import tariff.
“This narrative is entirely false, deliberately misleading, and inconsistent with actual market dynamics. For the avoidance of doubt, the factor that prompted the price adjustment was our own reduction of PMS gantry and coastal prices on November 6. The subsequent change in pump prices is now being wrongly attributed to a tariff decision in an attempt to distort the facts and misinform the public.”
According to the company, it had reduced its PMS gantry price from N877 to N828 per litre and its coastal price from N854 to N806 per litre, a 5.6 per cent cut, a development widely reported across major media platforms well before marketers adjusted pump prices.
“Any suggestion that pump prices fell because the 15 per cent import tariff was reversed is entirely false,” the statement read.
“President Bola Tinubu had approved the tariff for implementation since October 21. Despite its non-implementation, we proceeded to lower our PMS prices purely as part of our commitment to easing the burden on Nigerian consumers.”
“To reiterate, Dangote Petroleum Refinery, on November 6, reduced its PMS gantry price from N877 to N828 per litre, representing a 5.6 per cent decrease, and its coastal price from N854 to N806 per litre. These changes were publicly announced across major media platforms, including, but not limited to, The Punch, Vanguard, The Cable, Daily Trust, The Sun, The Wall Street Journal, and Petroleumprice.ng, New Telegraph, Business Hallmark, and several others, and were implemented well before marketers adjusted their pump prices.”
The Federal Government had earlier approved a 15 per cent import duty on petrol, a move that sparked pushback from independent marketers who warned that such a levy would raise pump prices. The suspension of the tariff last week led some commentators to attribute the price drop seen at filling stations to the policy reversal.
But Dangote Refinery said such claims were inaccurate and amounted to an attempt by “speculative importers” to distort market dynamics.
The $20bn facility noted that since beginning operations, it had reduced fuel prices more than seven times, often absorbing logistics costs to ensure nationwide uniform pricing during festive periods.
The company added that its entry into the market had helped end the perennial “ember month” scarcity, a recurring problem often tied to distribution constraints, import delays, and hoarding.
“Contrary to insinuations, imported products, many of which do not meet acceptable standards, are being sold at higher pump prices than our internationally-benchmarked products,” the refinery said.
It warned that the influx of lower-quality imported fuel amounted to “dumping,” a practice it said had previously contributed to the collapse of major industries, including Nigeria’s textile sector.
Dangote stressed that it remained unfazed by short-term policy changes or the activities of opportunistic traders who “enter and exit the market at will,” noting that its long-term investment in the energy sector signalled a commitment beyond quick gains.
“We will continue to operate with integrity, transparency, and an unwavering focus on energy security. Our goal remains to supply Nigerians with high-quality, competitively priced petroleum products,” the company said.
The refinery urged marketers and stakeholders to rely on verified information to avoid misinforming the public and destabilising the emerging domestically driven fuel supply system.
The Independent Corrupt Practices and Other Related Offences Commission, ICPC, has arraigned former Kaduna State Governor, Nasir El-Rufai, at the Federal High Court in Kaduna over an alleged N8.68 billion fraud linked to a CCTV surveillance contract.
Arraigned alongside the ex-governor were his former Senior Special Adviser and Counsellor, Jimi Adebisi Lawal, and five companies over allegations bordering on corruption, money laundering, and financial misconduct.
The case, filed under charge number FHC/KD/93C/2026, was brought before Justice Hauwa’u Buhari of the Federal High Court, Kaduna.
Other defendants listed in the amended 11-count charge include Singularity Network Security Limited, Solar Life Nigeria Limited, Knowledge Investment Nigeria Limited, Intercellular Nigeria Limited, and Noble Coast Resources Limited.
The anti-graft agency equally mentioned Bashir El-Rufai, identified as an elder brother of the former governor, in one of the counts. He is currently said to be at large.
The ICPC stated that the charges stem from the award of a contract for the procurement, survey planning, final design, and installation of a Closed-Circuit Television, CCTV, surveillance system across the Kaduna metropolis.
The anti-graft agency alleged that El-Rufai, while serving as governor, approved the contract worth over eight billion naira, N8,682,574,054.94, in favour of Singularity Network Security Limited, despite the company allegedly lacking the required technical capacity and experience to execute such a project.
The Federal Government of Nigeria has evacuated the second batch of its citizens, numbering 66 people from South Africa over xenophobic attacks.
The evacuees landed at the Lagos international airport on Wednesday night as part of the Federal Government’s ongoing evacuation exercise approved by President Bola Tinubu, following the latest xenophobic violence in South Africa.
Recall that on June 11, the first batch of 258 evacuees arrived in the country aboard a chartered Air Peace flight.
Head of Nigerians in Diaspora Commission, NiDCOM, in Lagos, Dipo Onabowale, said the latest evacuation was facilitated by Kunle Soname, chairman and chief executive officer of ValueJet, with officials of the Nigerian High Commission in South Africa accompanying the returnees.
Onabowale, who spoke on behalf of Abike Dabiri-Erewa, NiDCOM chairman, commended Tinubu for approving the evacuation.
“There are 66 people in the second batch. Logistical challenges encountered during the first evacuation exercise are being addressed by the Ministry of Foreign Affairs.
“The Foreign Affairs Minister Bianca Odumegwu-Ojukwu, has assured that all registered Nigerians in South Africa would be evacuated,” Onabowale said.
The Ondo State Government has sanctioned a group of students involved in a viral “sign-out” video, ordering the withholding of their West African Senior School Certificate Examination (WASSCE) results and placing their names in a newly established school misconduct register, popularly referred to as the “black book.”
The disciplinary action was announced by the Ondo State Ministry of Education, Science and Technology following an emergency meeting held at the ministry’s headquarters in Akure to address the incident, which sparked widespread reactions on social media.
According to a statement issued by the ministry, the affected students are from Oyemekun Grammar School, Aquinas Secondary School and CAC Grammar School. The viral video, recorded after the completion of the 2026 WASSCE, allegedly showed graduating students engaging in unruly behaviour, including tearing their school uniforms and chanting inappropriate slogans.
As part of the sanctions, the ministry said the official school testimonials and WASSCE results of the 17 identified students would be withheld indefinitely, while their names would be entered into the misconduct register of their respective schools.
The government also directed all school principals in the state to establish a “black book” for documenting cases of student misconduct. In addition, senior officers at the affected schools have been issued official queries for what the ministry described as inadequate supervision that allowed the celebrations to degenerate into disorder.
The ministry further ordered the immediate expulsion of any student featured in the video who is not in a terminal class.
Speaking after the disciplinary hearing, the Commissioner for Education, Prof. Igbekele Ajibefun, said the government supports the celebration of academic milestones but would not tolerate actions capable of tarnishing the image of the state’s education sector.
“The growing sign-out culture among secondary school students must be guided by decency. We will not fold our arms and watch the discipline we have painstakingly instilled in our schools be eroded for the sake of social media clout,” he said.
Ajibefun added that the government remained committed to protecting the integrity of the educational system and would not allow acts of indiscipline to disrupt learning in schools.
The Permanent Secretary of the ministry, Dr. Akindele Ige, urged school principals to promptly report signs of unrest to the Zonal Education Office and the ministry to prevent situations from escalating.
The ministry also disclosed that the affected students and their parents had been summoned to receive official letters detailing the sanctions imposed on them.
Officials said the measures were intended to serve as a deterrent to other students and reinforce discipline across secondary schools in Ondo State.
ICPC arraigns El-Rufai, six others over alleged N8.68bn CCTV contract fraud
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