NMDPRA: Dangote’s Disclosure of Aviation Fuel Price Will Ensure Market Stability

. Dangote Group dismisses false claims on refinery financing, rift with Elumelu

Peter Uzoho

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said the indicative gantry price for aviation fuel released by Dangote Refinery will ensure market stability and compliance by marketers.

This is just as Dangote Group has dismissed as false and malicious a publication alleging that its President, Aliko Dangote, distanced himself from Mr Tony Elumelu, describing the report as entirely baseless.

The agency’s Director of Public Affairs, Mr. George Ene-Ita, made this known in an interview with the News Agency of Nigeria (NAN) in Abuja yesterday.

Ene-Ita was reacting to the pricing and high cost of Aviation Turbine Kerosene (ATK), also known as aviation fuel or Jet A1.

The Dangote Petroleum Refinery has fixed its gantry price of ATK at N1,820 per litre, a move aimed at enhancing transparency in the sector.

This development comes at a time when Nigerians and airline operators have raised concerns over the high cost of the product and its heavy impact on the aviation industry.

In a move to ensure market stability, fair pricing, and ease mounting pressure on airline operators and passengers, NMDPRA had earlier set a jet fuel price cap for marketers, ordering direct sales to airlines.

The NMDPRA had issued a directive that the cost of Jet A1 fuel for end-users should range between N1,760 and N1,988 per litre in Lagos, and N1,809 to N2,037 per litre in Abuja.

In spite of the advisory guidance from the NMDPRA, oil marketers have continued to sell aviation fuel to airlines at N2,230 per litre and above, deepening concerns across Nigeria’s aviation sector.

Ene-Ita said that although petroleum product prices had been deregulated, the latest indicative gantry price for ATK disclosed by the refinery would further support its monitoring efforts.

“All petroleum product prices have been deregulated.

“However, with particular emphasis on ATK, the Dangote Refinery, having released its latest indicative gantry prices, which they promised to publish daily going forward, will enable us to ensure tacit compliance by marketers and operators during our routine surveillance operations nationwide.

“We are not unmindful of the fact that what the Dangote Refinery is doing is a concession to help ease overhead cost pressures in the aviation sector in order not to truncate its operations.

“So, we will play our part to see that Nigerians benefit from the gesture,” he said.

The NMDPRA pricing framework was derived from Platts average figures recorded between April 17 and 23, reflecting prevailing global oil market conditions.

According to the regulator, while the benchmarks provide guidance on fair pricing, actual market prices may fluctuate outside the stated range depending on the timing of purchase and external factors.

It specifically cited heightened global volatility driven by geopolitical tensions, including the ongoing U.S.–Iran crisis, as a key contributor to the recent hike in aviation fuel prices.

Meanwhile, Dangote Group has dismissed any alleged rift with Mr. Tony Elumelu.

In a statement issued by its Group Chief Branding and Communications Officer, Anthony Chiejina, the company said neither Dangote nor the Group made the claims attributed to them, stressing that the publication misrepresented both personal and corporate positions.

The Group also rejected assertions that the Dangote Petroleum Refinery was financed through personal borrowing from friends, describing the claims as inaccurate and a deliberate misrepresentation of facts.

“As a matter of principle, Aliko Dangote neither finances his projects through personal borrowing from friends nor engages in lending arrangements of that nature,” the statement said, adding that any such claims must be supported by verifiable evidence.

Dangote Group further clarified that there is no rift between Dangote and Elumelu, noting that both business leaders maintain a longstanding and cordial relationship.

The company also raised concern over a growing pattern of fabricated statements and the unauthorised use of Dangote’s name, likeness and image in AI generated advertisements and other misleading content, warning that such actions pose reputational risks and may constitute fraud.

It cautioned individuals and platforms involved in the creation and dissemination of false information to desist immediately, adding that it would pursue appropriate legal action where necessary to protect its reputation and that of its leadership.

Dangote Group reaffirmed its commitment to the highest standards of integrity while continuing to drive industrialisation, economic self-sufficiency, and sustainable development across Africa.