Dangote Sets New Petrol Pump Price at N739 per Litre
Dangote Petroleum Refinery, through MRS and its partners, is set to sell petrol at N739 per litre, following a recent reduction of its gantry price from N828 to N699 per litre. Speaking at a press briefing at the Lekki refinery on Sunday, Dangote Group President Aliko Dangote said some filling stations had been keeping pump prices high despite lower gantry costs, undermining his efforts to reduce prices. He confirmed that MRS stations would start selling at N739 per litre from Tuesday, with other partners following shortly after.
Dangote alleged that certain officials had instructed marketers to maintain inflated prices, but vowed to enforce the new pricing. “We are using all resources to bring down prices. Within a week to 10 days, we’ll ensure delivery and enforcement. For December and January, no station should sell above N740 nationwide. If you can, buy directly at N699,” he said.
He added that transporting petrol from the refinery costs no more than N15 per litre, questioning why pump prices reach N900. Dangote also criticized the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for issuing 47 import licences for over seven billion litres of petrol in Q1 2026, arguing that such actions harm local investments.
Emphasizing that modular refineries are struggling, Dangote reassured Nigerians that the N739 per litre price would be enforced, beginning with MRS stations. “Starting Tuesday, MRS will sell at N739/litre. The N699 price includes the NMDPRA percentage, leaving about N389 for us,” he said. NMDPRA spokesman George Ene-Ita declined to comment on the matter.
#UTVAfrica#
