The Dangote Petroleum Refinery has announced a new petrol pump price of ₦739 per litre, with MRS Oil & Gas leading the rollout across partner filling stations in what could ease pressure on fuel costs nationwide.
Gantry Price Slashed to ₦699
The new pump price follows a reduction in the refinery’s gantry (ex-depot), price from ₦828 to ₦699 per litre. The cut, announced over the weekend, is part of efforts to bring down fuel costs nationwide, particularly during the high-demand festive period.
MRS to Lead Implementation
Speaking at a press briefing at the Lekki refinery on Sunday, President of the Dangote Group, Alhaji Aliko Dangote, said MRS filling stations will commence sales at ₦739 per litre from Tuesday, with other partner marketers expected to adopt the price shortly after.
According to him, the rollout may take between one week and 10 days to stabilise nationwide, but the target is clear.
“For this December and January, we don’t want people to sell petrol for more than ₦740 nationwide,” Dangote said.
‘₦970 Per Litre Will Disappear’
Dangote accused some marketers of deliberately keeping prices high despite lower gantry prices, alleging that certain officials encouraged them to frustrate the reductions.
“That ₦970 per litre, you won’t see it again,” he declared.
“We are going to use whatever resources that we have to make sure that we crash the price down.”
He added that any marketer able to lift products—up to 10 trucks or more—can buy directly from the refinery at ₦699 per litre, including IPMAN members.
Why ₦900 Makes No Sense
The refinery owner questioned why pump prices rise close to ₦900 per litre when transportation from the Lekki refinery costs no more than ₦10–₦15 per litre.
“If freight is ₦10 to ₦15, everything should cost about ₦715. Why do you want to sell at ₦900? People should get the real price,” he said.
Dangote noted that the refinery itself is not making excessive profit, stressing that price cuts are being made to support the economy.
Import Licences Under Fire
Dangote also criticised the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for issuing 47 import licences covering more than seven billion litres of petrol for the first quarter of 2026, saying the move was hurting local refiners.
He warned that many modular refineries were on the verge of collapse, adding that continued fuel imports could undermine domestic production.
Reassurance on Enforcement
Reaffirming his stance, Dangote assured Nigerians that the new price regime would be enforced.
“Starting from Tuesday, MRS will start selling petrol at ₦739 per litre. Definitely, we will enforce that low price. If you have your truck, you can come here and buy it at ₦699,” he said.
Regulator Declines Comment
When contacted, NMDPRA spokesman George Ene-Ita declined to respond, saying simply, “For now, no comment.”
If fully implemented, the ₦739 per litre petrol price could ease transport costs, reduce pressure on households, and force broader market adjustments in Nigeria’s downstream oil sector.