In a move set to impact motorists across Nigeria, the Dangote Petroleum Refinery has announced that petrol will be sold at N739 per litre at pump stations, starting with MRS outlets in Lagos. This decision comes just two days after the refinery reduced its gantry price from N828 to N699 per litre.
Speaking at a press briefing at the Lekki refinery on Sunday, the President of the Dangote Group, Alhaji Aliko Dangote, said he was aware that despite the lower gantry prices, some filling stations had maintained high pump prices, which he described as a deliberate sabotage of the new price regime.
“I was told that the marketers have met with some officials and were told to make sure that the price is maintained high. But this price we are going to introduce, we are going to start with MRS stations most likely on Tuesday in Lagos; that N970 per litre, you won’t see it again,” Dangote said.
He highlighted that the price reduction would be enforced nationwide, noting that anyone with the capacity to buy in bulk could purchase petrol at the refinery price of N699 per litre. Dangote added that the price to consumers, including transport costs, would be around N715 per litre, questioning the justification for pump prices as high as N900.
“Freight within Lagos is N10 or N15, maximum. So if it’s N10 to N15, everything is going to cost you N715. Why do you want to sell at N900? People should get the real price,” he said.
Dangote also highlighted the challenge posed by regulatory practices in the sector, particularly the issuance of import licences. He accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of issuing 47 import licences for over 7.5 billion litres of petrol in the first quarter of 2026, arguing that the move undermines local production and threatens smaller modular refineries.
“They normally issue licences in the middle of the month. So, 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 to supply enough quantity. If you are talking about monopoly, did we stop anybody? They issued 47 licences. Let those people come and put up a refinery here, or let them buy even NNPC’s and operate them. If it’s profitable, they should go and do that now,” Dangote said.
He also stressed that modular refineries in Nigeria are struggling financially. “Those modular refineries, I can tell you for nothing, they are almost on the verge of collapse. None of them is making a dime,” he added.
According to Dangote, the enforcement of the N739 per litre price would start immediately at MRS stations in Lagos, with other partners of the refinery expected to follow suit. He assured that the price would not only reflect the gantry cost but also include necessary percentages mandated by regulatory authorities, with the effective amount accruing to the refinery being about N389 per litre.
“We are going to use whatever resources that we have to make sure we crash the price down. We will get these sales; maybe it will take us a week to 10 days. But first of all, 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. Those who want to keep the price to sabotage the government, we will fight as much as we can to make sure that these prices are down,” he said.
The price adjustment comes at a time when Nigerians have been grappling with high fuel costs, with pump prices reportedly reaching as high as N970 per litre in some areas despite reductions at the refinery. Motorists and consumer groups have welcomed Dangote’s announcement, viewing it as a step toward stabilizing the fuel market.
The Dangote Petroleum Refinery, one of the largest in Africa, has been central to Nigeria’s efforts to reduce dependence on imported fuel. Since its commissioning, the refinery has aimed to supply the domestic market with affordable petrol, diesel, and aviation fuel. By setting competitive pump prices, Dangote aims to curb the influence of unscrupulous marketers and ensure Nigerians benefit from local production.
Despite Dangote’s assurances, some challenges remain. The refinery’s president alleged that certain officials had met with marketers to encourage maintaining high prices, undermining the price reduction efforts. He vowed to take measures to enforce compliance and protect consumers.
“This price we are going to introduce is going to start with MRS stations most likely on Tuesday in Lagos; that N970 per litre, you won’t see it again. We have also asked members of IPMAN to come now. We have asked anybody who can buy 10 trucks to come and buy 10 trucks at N699,” Dangote said.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has not yet responded in detail to Dangote’s announcement. When contacted, NMDPRA’s spokesman, George Ene-Ita, simply said, “For now, no comment.”
The announcement is expected to take effect immediately at selected outlets, with full implementation across other stations in Lagos and eventually nationwide over the next few days. Motorists have been advised to monitor official Dangote outlets for the new prices, as the company seeks to curb price manipulation and ensure wider access to affordable petrol.
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