The Dangote Petroleum Refinery has announced a new pump price of N739 per litre for Premium Motor Spirit (petrol), with partner filling stations expected to begin implementation from Tuesday, barring any last-minute changes.
The announcement follows a recent reduction in the refinery’s gantry price from N828 to N699 per litre. Speaking during a press briefing at the Lekki refinery in Lagos on Sunday, President of the Dangote Group, Alhaji Aliko Dangote, said the price adjustment was aimed at ensuring Nigerians benefit directly from local refining.
Dangote disclosed that MRS Oil Nigeria, a key retail partner of the refinery, would be the first to commence sales at the new price, while other partners would subsequently align.
He, however, expressed concern that despite lower ex-depot prices, some filling stations often retain high pump prices, thereby frustrating efforts to ease the burden on consumers.
“I am aware that even when the gantry price comes down, some marketers keep prices high. We have been told that certain marketers were encouraged to maintain high prices to sabotage the reduction,” Dangote said.
According to him, the refinery would deploy all available measures to ensure that the new pricing regime is enforced nationwide, particularly during the festive period.
“For December and January, we do not want petrol to be sold for more than N740 per litre across the country. Those who want to keep prices high to sabotage the government, we will resist as much as possible,” he stated.
Dangote explained that the cost of transporting petrol from the Lekki refinery within Lagos does not exceed N15 per litre, questioning the justification for pump prices as high as N900 per litre in some locations.
“If freight within Lagos is N10 to N15, then the total cost should be about N715. Why should anyone sell at N900? Nigerians deserve to pay the real price,” he said.
He further accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of issuing what he described as “reckless” import licences, alleging that 47 licences had been approved to import more than seven billion litres of petrol in the first quarter of 2026, despite assurances of adequate local supply.
Dangote warned that continued large-scale fuel imports could undermine domestic refining investments, including modular refineries, many of which he said were already struggling to remain viable.
“NNPC was once the only supplier of fuel imports. Now, we are among the few producing locally, yet licences are still being issued. Those who claim monopoly should come and build refineries or acquire and operate existing ones if it is profitable,” he said.
Reaffirming his commitment to price stability, Dangote assured Nigerians that the N739 per litre pump price would be enforced, starting with MRS stations from Tuesday.
“If you have a truck, you can come and buy petrol here at N699 per litre. That price already includes regulatory charges. Starting Tuesday, MRS will sell at N739 per litre, and we will ensure compliance,” he said.
When contacted for comment, the NMDPRA spokesman, Mr George Ene-Ita, declined to respond, saying only: “For now, no comment.”
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