Dangote Petroleum Refinery and its partners, including MRS Oil Nigeria, are set to sell petrol at N739 per litre starting Tuesday, following a recent reduction in the refinery’s gantry price from N828 to N699 per litre.
The move aims to lower fuel costs for Nigerians during the festive season and early 2026.
Speaking at a press briefing at the Lekki refinery on Sunday, Alhaji Aliko Dangote, President of the Dangote Group, expressed determination to ensure that the lower gantry price is reflected at filling stations, noting that some marketers have deliberately kept pump prices high.
MRS stations in Lagos will implement the new price first, with other partners following shortly. Dangote invited independent marketers to purchase petrol directly from the refinery at N699 per litre, allowing those capable of lifting up to 10 trucks to do so.
“We are going to use all available resources to bring prices down nationwide within a week to ten days. For December and January, petrol should not sell for more than N740 per litre. Those who attempt to sabotage this will be challenged,” Dangote stated.
Dangote questioned why some filling stations continue to sell petrol as high as N900 per litre when transporting it within Lagos costs only N10 to N15 per litre, putting the realistic landing cost at about N715 per litre.
He added that the refinery is not making a profit despite full storage tanks.
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He also criticised the Nigerian Midstream and Downstream Petroleum Regulatory Authority,NMDPRA, for issuing 47 import licences for more than seven billion litres of petrol for the first quarter of 2026, arguing that the move undermines local refineries and discourages domestic investment.
“If this is profitable, others should build refineries or buy existing ones. Modular refineries are almost collapsing, and none are making money,” Dangote said.
Reaffirming his commitment, Dangote assured that the N739 per litre pump price would be enforced nationwide, beginning with MRS outlets.
He also noted that the current N699 per litre refinery price already includes the percentage payable to NMDPRA, meaning the effective revenue to the refinery is about N389 per litre.
When contacted for comment, NMDPRA spokesman George Ene-Ita said, “For now, no comment.”
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