Consumers across Lagos and other states were left frustrated yesterday as the N739 per litre petrol price announced by Dangote Industries Limited failed to materialize at the pumps. Despite assurances that the rate would take effect from Tuesday, Daily Sun checks revealed that MRS filling stations in Abule Egba, Agege, and Ikeja were still selling petrol at N835 per litre, while other major and independent marketers charged between N875 and N885 per litre.
Alhaji Aliko Dangote had previously promised that petrol prices would drop to no more than N740 per litre following his refinery’s reduction of the gantry price to N699 per litre. He said MRS stations would be the first to reflect the new pricing and emphasized that Nigeria’s dependence on imported fuel was undermining local production and deterring investment in domestic refining.
The delayed implementation has intensified a brewing conflict between Dangote and NMDPRA CEO Farouk Ahmed. Dangote publicly criticized Ahmed in paid newspaper adverts, alleging that the arbitrary issuance of fuel import licenses was harming the national economy and threatening progress in the oil and gas sector.
Meanwhile, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) reaffirmed its confidence in NMDPRA’s leadership, citing regulatory reforms and market clarity introduced under Ahmed’s guidance. The association warned that public attacks on the regulator and national refineries could erode investor confidence, trigger supply disruptions, and contribute to artificial scarcity.
PETROAN also emphasized that petroleum product prices should be determined by market forces, as mandated by the Petroleum Industry Act (PIA) 2021. The association called for urgent government intervention to resolve disputes, maintain healthy competition, and protect Nigeria’s downstream petroleum sector from destabilizing conflicts that could impact the wider economy.
source: The Sun