Barring any last-minute change, MRS Oil Nigeria Plc and other partners of the Dangote Petroleum Refinery are set to begin selling petrol at N739 per litre, following a fresh push by the refinery to force down pump prices nationwide.
The development comes barely two days after the Dangote refinery reduced its gantry price for Premium Motor Spirit (PMS) from N828 to N699 per litre.
Speaking during a press briefing at the Lekki-based refinery on Sunday, President of the Dangote Group, Alhaji Aliko Dangote, said the refinery was determined to ensure that the latest price reduction translates to lower pump prices for consumers.
Dangote disclosed that MRS stations would commence sales at N739 per litre from Tuesday, with other retail partners expected to follow shortly.
He expressed concern that despite repeated reductions in ex-depot prices, some filling stations deliberately keep pump prices high, an action he described as a direct attempt to sabotage ongoing price reforms.
According to him, intelligence available to the company indicated that some officials had allegedly met with certain marketers and encouraged them to maintain high pump prices to frustrate the impact of the refinery’s interventions.
“I was told that the marketers have met with some officials and were told to make sure that the price is maintained high. But the price we are going to introduce, starting with MRS stations most likely on Tuesday in Lagos, that N970 per litre—you won’t see it again,” Dangote said.
He added that the refinery had opened its doors to independent marketers, including members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), urging any marketer capable of lifting up to 10 truckloads to do so at the N699 per litre ex-depot rate.
Dangote vowed that the refinery would deploy all available resources to enforce the new price regime, stressing that petrol should not sell above N740 per litre nationwide throughout December and January.
“We are going to use whatever resources we have to make sure that we crash the price down. Within a week to 10 days, we will be able to deliver. For this December and January, we don’t want people to sell petrol for more than N740 nationwide,” he said.
The billionaire businessman further questioned the justification for pump prices nearing N900 per litre, noting that transporting petrol from the Lekki refinery costs no more than N10 to N15 per litre.
“Freight within Lagos is N10 or N15 maximum. So everything should cost about N715. Why do you want to sell at N900? People should get the real price,” he argued.
Dangote 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 7 billion litres of petrol in the first quarter of 2026.
He warned that such licences were killing local investments and pushing modular refineries to the brink of collapse.
“They are now ready to issue licences for about 7.5 billion litres for the first quarter of 2026, despite the fact that we have guaranteed enough supply. Those modular refineries are almost on the verge of collapse. None of them is making a dime,” he said.
Reaffirming the refinery’s stance, Dangote assured Nigerians that the N739 per litre pump price would be enforced, beginning with MRS outlets.
“Starting from Tuesday, MRS will start selling petrol at N739 per litre. Definitely, we will enforce that low price. If you have your truck, you can come here and buy it. We are selling at N699,” he stated.
When contacted for a reaction, the NMDPRA spokesperson, George Ene-Ita, declined to comment, saying, “For now, no comment.”
