Dangote Sets Petrol Price at ₦739 Per Litre

• MRS and other partners of the Dangote Petroleum Refinery are set to begin selling petrol at ₦739 per litre, following a fresh cut in refinery prices and strong warnings against price manipulation.

MRS Oil Nigeria and other partner marketers of the Dangote Petroleum Refinery are set to begin selling petrol at ₦739 per litre, barring any last-minute changes.

The development comes just two days after the Dangote Refinery reduced its ex-depot (gantry) price of petrol from ₦828 to ₦699 per litre. Speaking at a press briefing at the Lekki refinery on Sunday, President of the Dangote Group, Alhaji Aliko Dangote, expressed frustration that some filling stations often keep pump prices artificially high despite reductions at the depot level.

Dangote announced that MRS stations would commence sales at ₦739 per litre from Tuesday, with other partner marketers expected to follow shortly after. He alleged that some government officials had met with certain marketers and encouraged them to maintain high prices in order to frustrate the refinery’s price reduction efforts.

According to him, the refinery is determined to enforce the new pricing regime and ensure Nigerians feel the impact of lower fuel costs. He stressed that petrol selling at ₦970 per litre would soon disappear, starting with Lagos.

Dangote further disclosed that marketers willing to purchase in bulk could buy directly from the refinery at ₦699 per litre, noting that the company would deploy all available resources to crash pump prices nationwide. He said the goal is to ensure petrol does not sell above ₦740 per litre across the country throughout December and January.

Questioning the justification for high pump prices, Dangote said transporting petrol within Lagos costs no more than ₦10 to ₦15 per litre, bringing the total cost to about ₦715 per litre. He described pump prices nearing ₦900 as unjustifiable and exploitative.

The billionaire businessman also accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of undermining local refining by issuing 47 import licences to bring in more than seven billion litres of petrol in the first quarter of 2026, despite assurances that local supply would be sufficient. He said the move was damaging investments and pushing modular refineries toward collapse.

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Dangote insisted that his company was not seeking a monopoly, arguing that the issuance of multiple import licences contradicted such claims. He challenged other players to invest in local refining if the business was truly profitable.

Reaffirming his stance, Dangote assured Nigerians that the ₦739 per litre price would be enforced, beginning with MRS stations on Tuesday.

He emphasized that the refinery would continue selling petrol at ₦699 per litre to marketers willing to buy directly.

When contacted for a response, the NMDPRA spokesperson, George Ene-Ita, declined to comment on the allegations.