The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has rejected claims that Dangote Petroleum Refinery drove recent petrol price reductions, insisting that broader economic forces shaped the trend.
In its statement, DAPPMAN identified three key factors behind the adjustments. The naira, it said, has held between ₦1,500 and ₦1,550 to the dollar since early 2025, easing import costs. Global crude prices also fell from $92 to $76 per barrel, cutting the cost of refined products. At the same time, increased dollar supply from the Central Bank of Nigeria improved forex access for fuel importers.
“These variables are the real drivers of petrol prices,” the association stated. “No single refinery dictates these outcomes.”
DAPPMAN argued that attributing price changes solely to Dangote distorts public understanding and downplays the influence of deregulation and competition. It stressed that Nigeria needs a diversified supply base to sustain affordability and protect market reforms.
Earlier, Dangote executives claimed that supply from the 650,000 barrels-per-day refinery lowered pump prices by boosting local availability and reducing reliance on imports. Since entering the petrol market in 2025, the refinery has positioned itself as a major player in the downstream sector.
DAPPMAN acknowledged Dangote’s role in easing supply pressure but maintained that the refinery cannot determine price direction. The group reiterated that exchange rates, global oil dynamics, and forex access remain the decisive forces shaping the market. It urged stakeholders to evaluate price movements within this wider context.
The marketers further warned that crediting one supplier with price control risks discouraging investment by other operators. They noted that Nigeria’s deregulated framework relies on multiple players competing to ensure fair pricing, transparency, and adequate supply. DAPPMAN called on industry stakeholders to uphold facts and avoid narratives that could weaken confidence in the downstream sector and mislead unsuspecting consumers.