MRS and other partners of the Dangote Petroleum Refinery are expected to start selling petrol at N739 per litre, following a fresh reduction in the refinery’s depot price. The move comes two days after the refinery slashed its petrol gantry price from N828 to N699 per litre, a cut of about N129 per litre.
Speaking at a press briefing at the Lekki refinery, Dangote Group President, Aliko Dangote, said he was aware that some filling stations keep pump prices high despite lower depot prices. He accused some marketers of undermining his efforts by refusing to pass on the reductions to consumers.
Dangote said MRS would commence sales at N739 per litre from Tuesday in Lagos, while other partner stations would follow across the country. He insisted that the current prices of around N900 to N970 per litre at some outlets were unjustifiable and would no longer be tolerated where his products are supplied.
According to him, the refinery is ready to sell petrol at N699 per litre to any marketer able to load at least 10 truckloads. He promised to use all available resources to push down prices over the next seven to ten days so that petrol does not sell for more than about N740 per litre nationwide during December and January.
Dangote alleged that some unnamed officials met with certain marketers and encouraged them to keep pump prices high in order to frustrate the refinery’s price cuts. He said such actions amounted to sabotage against both Nigerians and government efforts to ease the cost-of-living pressures.
He argued that logistics costs do not support the high pump prices seen in parts of the country. According to him, transporting petrol from the refinery within Lagos should cost no more than about N10 to N15 per litre, bringing the total reasonable cost to around N715 per litre, well below the N900 price point.
Dangote also criticised the Nigerian Midstream and Downstream Petroleum Regulatory Authority for issuing about 47 import licences for roughly 7.5 billion litres of petrol for the first quarter of 2026. He said such large import allocations threaten local refineries and leave tanks at his facility full, even though he has guaranteed sufficient supply for the domestic market.
He rejected claims that his refinery seeks a monopoly, noting that multiple licences have been issued and other investors are free to build or acquire refineries, including NNPC facilities, if they consider the business profitable. He added that many modular refineries are struggling and are close to collapse, claiming they are not making any profit under current market conditions.
Dangote assured Nigerians that the N739 per litre pump price would be enforced, beginning with MRS outlets. He explained that the N699 depot price already includes the NMDPRA levy, and that the net amount received by the refinery is much lower, which he put at about N389 per litre.
When contacted for a response to the allegations and criticisms, the spokesperson for the NMDPRA, George Ene-Ita, declined to comment, saying there would be no reaction for now.
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