Dangote Denies Fixing Price For Petrol

The Dangote Group has refuted recent claims circulating in the media that the company has set a price of N600 per litre for its Premium Motor Spirit (PMS) product.

The clarification came in response to a report published by Punch Newspapers on Tuesday, August 13, 2024, which suggested that marketers were projecting this price for Dangote Petrol.

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In a press statement on Tuesday evening issued by Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Group, the company firmly stated that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is not currently a business partner and has no authority to speak on behalf of Dangote regarding PMS pricing.

Chiejina emphasized that the company has not engaged in any discussions with IPMAN regarding the pricing of its petrol and that any information suggesting otherwise is purely speculative.

He urged the public to disregard such announcements and rely only on official communications from Dangote Group.

According to the statement, “Our attention has been drawn to headlines announcing “Marketers Project N600/litre for Dangote Petrol” published in Punch Newspapers of Tuesday August 13, 2024.

“We would like to clarify that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is not our business partner yet. 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 desist from such speculative announcements. We have our official channels through which we make our views known to our stakeholders.”