The Dangote Group has commended the Federal Government’s new tariff policy on imported petroleum products, describing it as a crucial shield against dumping that has historically crippled local industries.
In a statement issued on Thursday, the management of Dangote Industries Limited warned that failure to protect domestic refineries would lead to large-scale dumping from Asia and Europe, which would “strangulate domestic refineries, cripple allied industries, and undermine the laudable policies” of President Bola Tinubu’s administration.
Aliko Dangote, President of Dangote Industries, was quoted in the statement highlighting the destructive impact of dumping on the economy. “Dumping engenders poverty, discourages industrialisation, creates unemployment and leads to revenue loss for the government,” he said. “Dumping destroyed our textile industry, which was once a major employer of labour.”
The statement called for strengthened government monitoring to prevent “unscrupulous and rent-seeking individuals” from dumping substandard and toxic petroleum products, which undermines local production and national interests.
Simultaneously, the company assured Nigerians of a steady supply of petrol and diesel throughout the end-of-year festive period, promising to avert the traditional “fuel anxiety” associated with the season.
“I want to assure Nigerians that the Dangote Refinery is fully committed to maintaining an uninterrupted supply of petrol throughout the festive period. Nigerians can look forward to a Christmas and New Year free of fuel anxiety,” Dangote stated.
The refinery, which began producing Premium Motor Spirit (PMS) in September 2024, was credited with significant market stabilisation. According to the statement, the average pump price of petrol dropped from about N1,030 per litre in September 2024 to between N841 and N851 per litre in September 2025 following the implementation of its Direct Delivery Scheme.
A even more dramatic price drop was recorded for diesel (Automotive Gas Oil), with prices falling from a range of N1,400-N1,700 per litre in September 2024 to an average of N1,020 per litre a year later.
The statement praised President Tinubu’s “courageous and visionary leadership” for approving the tariff policy, stating that it would encourage fresh investments, strengthen Nigeria’s industrial base, and create more jobs. It also urged “rent-seekers” to align with the government’s vision for a self-sustaining energy sector.
With petrol prices in neighbouring West African countries ranging between $1.20 and $2.00 per litre, the statement noted that Nigeria’s current price of around $0.60 per litre is a clear indication of the refinery’s impact on affordability and supply stability.