The recent drop in petrol prices across Abuja has sparked a major disagreement between Dangote Refinery and Nigerian petroleum marketers, each offering different explanations for the reduction.

Filling stations in the capital have adjusted pump prices to between N940 and N945 per litre, down from N945–N955. The change came shortly after the federal government suspended its proposed 15% import duty on petrol and diesel — a policy shift aimed at boosting local refining.

Speaking to DAILY POST, Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), insisted that the drop in fuel price is directly tied to the government’s reversal.

He argued that the planned 15% import tariff would have triggered indirect inflation and pushed petrol prices even higher in a supposedly deregulated sector.

Ukadike stressed that price control should be left to market forces, not additional taxes.

According to him:

The tariff would have disrupted the deregulated market structure

Suspending it prevents unnecessary inflation

Marketers are pleased the government listened

Falling global crude oil prices will also push petrol prices further down

However, Dangote Refinery disagrees.

In a statement released via its official X account, the refinery clarified that the current reduction in fuel prices has nothing to do with the suspension of the 15% import duty. Instead, Dangote attributes the drop to its own reduction in gantry (loading) prices earlier this month.

With a refining capacity of 650,000 barrels per day, Dangote said its pricing adjustments are what influenced the market — not government policy.

Interestingly, DAILY POST notes that the suspended import duty would have placed Dangote at a competitive advantage, as importers would face higher costs. This would have kept petrol prices high for consumers while boosting Dangote’s position in the market.

For now, Nigerians are simply relieved to see pump prices drop — but the debate over what truly caused the reduction may continue for weeks.