The Dangote Petroleum Refinery has announced the nationwide sale of premium motor spirit (PMS), also known as petrol, at a pump price of ₦739 per litre across all MRS Oil Nigeria Plc filling stations. The refinery described the move as a major step towards reducing fuel costs, easing pressure on Nigerians, and stabilising the country’s downstream petroleum sector.
In a statement released on Sunday, the refinery said the new price is already effective at all MRS filling stations nationwide and urged Nigerians to report any station selling above the approved rate. Consumers were asked to call a dedicated hotline if they encounter any MRS outlet selling petrol above ₦739 per litre.
The refinery said the price reduction is part of its wider goal to make fuel more affordable, especially during the festive season, when fuel scarcity and price hikes are common.
“We encourage Nigerians to avoid buying PMS at excessively high prices when they can access locally refined fuel at ₦739 per litre from over 2,000 MRS stations nationwide,” the refinery said.
“Report any MRS station selling above ₦739 per litre by calling 0800 123 5264.”
According to the refinery, MRS Oil Nigeria Plc operates more than 2,000 filling stations across the country, meaning the new price should benefit consumers in all regions. The company said it expects the price to be fully reflected at all MRS outlets, ensuring that Nigerians enjoy the impact of the reduction.
Dangote Refinery praised MRS and other marketers that have already adjusted their pump prices to reflect the new rate. It described their action as a show of patriotism and support for Nigeria’s economic recovery.
“We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump,” the statement said.
“We call on others to join this effort as a show of support for Nigeria’s economic recovery.”
The refinery noted that the festive season has traditionally been a difficult period for Nigerians due to fuel shortages and sharp price increases. Many Nigerians are used to long queues, transport fare hikes, and increased cost of living during holidays.
However, Dangote Refinery said its intervention has changed this pattern by lowering pump prices at a time when Nigerians usually expect hardship.
“Historically, the festive season has been associated with fuel scarcity and sharp price hikes,” the refinery said.
“However, Dangote Refinery has delivered a decisive market intervention—crashing pump prices at a time when Nigerians typically brace for hardship.”
The refinery disclosed that the price cut is supported by a guaranteed daily supply of 50 million litres of petrol. According to the company, this steady supply is enough to meet national demand and prevent scarcity during the holiday period.
Industry observers say this level of supply could significantly reduce pressure on fuel distribution and help stabilise prices, especially as Nigerians travel more during festive periods.
Dangote Refinery also highlighted the wider economic benefits of refining petrol locally. It said local refining reduces Nigeria’s dependence on imported fuel, which has long exposed the country to global oil price changes and foreign exchange shortages.
By refining petrol within Nigeria, the refinery said the country can conserve foreign exchange, reduce pressure on the naira, and improve energy security.
“By refining locally at scale, we are reducing Nigeria’s exposure to volatile global markets, conserving foreign exchange, stabilising the naira, and strengthening energy security,” the statement said.
Nigeria has for decades relied heavily on imported petrol due to limited local refining capacity. This dependence has often led to fuel shortages and sudden price increases whenever global prices rise or foreign exchange becomes scarce.
The coming on stream of the Dangote Refinery, which is Africa’s largest, has been widely seen as a turning point for Nigeria’s oil and gas sector. The refinery is expected to meet local fuel demand and reduce the need for imports.
The refinery said its sustained price reduction and steady supply are already providing relief to households, businesses, and transport operators across the country. Lower fuel prices are expected to help reduce transport costs, ease pressure on food prices, and improve overall economic activity.
However, Dangote Refinery also warned against attempts by some operators to frustrate the price reduction by creating artificial scarcity or manipulating supply.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable,” the refinery said.
The company called on government agencies and regulators to remain alert and take firm action against such practices, especially during the festive season when demand for fuel is high.
“We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the statement added.
The refinery also encouraged other petrol station operators, beyond MRS, to patronise its products so that the benefits of the lower price can reach more Nigerians.
“We also call on other petrol station operators to patronise our products so that the benefits of this price reduction can be passed on to Nigerians across all outlets,” it said.
This call comes amid ongoing concerns about uneven fuel pricing across the country, with some stations selling petrol far above the official or expected rates.
Dangote Refinery reaffirmed that its operations are guided by long-term national interest rather than short-term profit. The company said it remains committed to steady supply, price moderation, and Nigeria’s energy security.
The refinery’s announcement has been welcomed by many Nigerians, especially transport operators and commuters who have struggled with high fuel costs in recent months. Some motorists expressed hope that the price cut would be sustained and extended to more filling stations.