Dangote Petroleum Refinery Defies Oil Hike with Bold Fuel Price Relief

Dangote Petroleum Refinery Defies Oil Hike with Bold Fuel Price Relief

Dangote Petroleum Refinery has pledged to keep petrol prices low despite the sharp rise in global crude oil prices, bringing hope to millions of struggling Nigerians.

The refinery, Africa’s largest and the world’s biggest single-train facility, said it remains committed to making fuel affordable. The company assured citizens that its mission is not just about profit but about easing the burden on ordinary Nigerians.

Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Petroleum Refinery, made this announcement in a statement from Lagos. He said the company has already reduced the price of Premium Motor Spirit (PMS) and will maintain its support for the economy through stable pricing.

“This decision reflects our commitment to delivering affordable, high-quality petroleum products without compromising efficiency or sustainability,” Chiejina said.

He explained that Dangote Petroleum Refinery’s strategy aligns with the Federal Government’s Nigeria First policy, which encourages local production. It also supports President Bola Tinubu’s Renewed Hope Agenda focused on economic revival and inclusive development.

By refining crude oil locally, the refinery helps Nigeria save foreign exchange, reduce import dependence, and strengthen national energy security. Chiejina said this approach is a game-changer for the country.

“Refining petroleum products locally at the world’s largest single-train refinery allows us to significantly contribute to Nigeria’s energy security, conserve foreign exchange, and bolster economic resilience,” he said.

The Dangote spokesperson also thanked President Tinubu for supporting the company through the Naira-for-Crude Initiative. The initiative allows the federal government to exchange crude oil for refined products using the Nigerian naira, helping to stabilise pump prices.

“We are deeply grateful to President Tinubu for enabling this through the Naira-for-Crude Initiative, which has helped reduce fuel prices for the benefit of all Nigerians,” Chiejina added.

The company said its mission goes beyond business—it is a national service. Dangote Petroleum Refinery reaffirmed its dedication to consumers, partners, and government stakeholders, saying it will continue to focus on excellence while keeping national interests at heart.

“We remain committed to ensuring that the benefits of our local refining capacity are fully realised by Nigerians,” the statement said.

“Affordability, quality, and national interest will always guide our operations.”

This commitment comes at a time when most Nigerians are worried about rising transport costs, food prices, and the overall cost of living. For many households, fuel price stability could mean a better chance to survive the current economic pressures.

With global oil prices affected by ongoing international conflicts and market volatility, the average Nigerian would normally expect a direct increase at the fuel pump. But Dangote’s homegrown refinery offers a shield—cutting out the middlemen and saving Nigerians from imported inflation.

Built with a capacity to process 650,000 barrels of crude oil daily, Dangote Petroleum Refinery was designed to serve not just Nigeria, but potentially other African nations. This massive scale gives it the power to transform how Nigeria meets its fuel needs.

So far, its track record is promising. While global fuel prices rise, the refinery has already cut petrol prices, offering immediate relief to transporters, traders, and families who rely heavily on affordable fuel to survive.

Transportation costs affect everything—from the price of food in markets to the cost of education and medical care. Keeping petrol affordable has a direct impact on how millions of Nigerians live their lives.

Dangote Petroleum Refinery’s pledge to hold back from price hikes shows that the private sector can take bold, people-centered actions. While governments make policies, it is often companies like Dangote that help bring those policies to life.

If the refinery continues this path, its effect will go beyond pump prices. It could reduce inflation, improve business costs, and support efforts to grow local industries that depend on steady energy supplies.

In a country where oil wealth has not always translated into public benefit, Dangote Petroleum Refinery’s pledge stands out. It tells a new kind of story—one where a Nigerian company puts the people first, even when the global economy says otherwise.

As the world watches oil markets nervously, Nigerians can breathe a little easier. The message from Dangote is loud and clear: it’s possible to build, produce, and protect your own—even in tough times.