The Dangote Petroleum Refinery has announced a new petrol pump price of ₦739 per litre, a move expected to bring relief to motorists and ease pressure on household budgets. The new price is set to take effect from Tuesday at MRS filling stations, with other partner marketers expected to follow shortly, barring any last-minute changes.
Speaking at a press briefing at the Lekki refinery on Sunday, Aliko Dangote, President of the Dangote Group, said the decision followed a reduction in the refinery’s gantry price from ₦828 to ₦699 per litre. He expressed concern that despite lower wholesale prices, some filling stations often keep pump prices high, undermining efforts to make fuel more affordable for Nigerians.
Dangote disclosed that MRS would be the first to implement the ₦739 pump price, starting in Lagos, while other marketers would gradually comply. He alleged that some officials had encouraged certain marketers to maintain high prices to frustrate the price reduction, adding that he was determined to challenge any attempt to sabotage the new pricing regime.
According to him, the cost of transporting petrol from the refinery is no more than ₦15 per litre, making higher pump prices unjustifiable. He also accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of issuing 47 import licences for over seven billion litres of petrol for the first quarter of 2026, a move he said was hurting local refining investments and leaving refinery tanks full.
Reassuring Nigerians, Dangote said the ₦739 per litre price would be enforced nationwide, beginning with MRS Oil Nigeria stations. He added that marketers and independent dealers were free to buy directly from the refinery at ₦699 per litre, insisting that for December and January, petrol should not sell above ₦740 across the country. When contacted, an NMDPRA spokesperson declined to comment on the allegations.
source: punch