NEWS
Dangote Refinery Slashes Petrol Prices Again as MRS, Partners Set to Sell at ₦739 Per Litre, Vows to Crush Sabotage and Accuses Regulators of Undermining Local Refining
Barring any last-minute change, MRS Oil and other strategic partners of the Dangote Petroleum Refinery are set to begin the sale of Premium Motor Spirit (petrol) at ₦739 per litre, marking a significant downward shift in pump prices and a renewed push to ease the burden on Nigerians.
The development comes just two days after the Dangote Petroleum Refinery announced a reduction in its petrol gantry price from ₦828 to ₦699 per litre, a move widely seen as a major intervention in Nigeria’s downstream petroleum market.
Speaking during a press briefing at the Lekki refinery on Sunday, President of the Dangote Group, Alhaji Aliko Dangote, expressed concern that despite the reduction in gantry prices, some filling station operators often refuse to adjust pump prices accordingly, thereby frustrating efforts aimed at making petrol more affordable.
According to him, MRS stations would take the lead in implementing the new pump price of ₦739 per litre from Tuesday, while other partner marketers would follow shortly after.
Dangote alleged that certain officials had met with some marketers and encouraged them to keep prices artificially high in order to sabotage the price reduction initiative, adding that he was prepared to confront such actions head-on.
“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 ₦970 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 ₦699.
“We are going to use whatever resources that we have to make sure that 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 ₦740 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. That’s not the price. If you have money to come and buy, you can pick up petrol at ₦699,” he said.
Dangote further questioned the justification for pump prices climbing as high as ₦900 per litre, noting that transporting petrol from the Lekki refinery costs no more than ₦15 per litre. He argued that with such logistics costs, there was no economic basis for excessive pricing at filling stations.
He also launched a scathing attack on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), accusing the agency of issuing 47 import licences for over seven billion litres of petrol in the first quarter of 2026, a move he described as harmful to local refining investments and market stability.
“Freight within Lagos is N10 or ₦15, maximum. So if it’s ₦10 to ₦15, everything is going to cost you ₦715. Why do you want to sell at ₦900? People should get the real price. I cannot come now and take the hit. Did we make money? No, we didn’t make money. But as we speak now, even our tanks are full because the NMDPRA has issued reckless licences. And we have to now go and complain to the government. 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 go and buy even NNPC’s and operate them. If it’s profitable, they should go and do that now. NNPC was the only business that was bringing in fuel before.
“Now, we are the only one and one of the few modular refineries that are producing. Those modular refineries, I can tell you for nothing that they are almost on the verge of collapse. None of them is making a dime,” he added.
The billionaire businessman reassured Nigerians that the ₦739 per litre pump price would not only be announced but actively enforced, starting with MRS stations from Tuesday. He stressed that the refinery remains open to marketers who are ready to lift products directly.
“Starting from Tuesday, MRS will start selling petrol at ₦739/litre. Definitely, we will enforce that low price. We will make sure that it’s implemented. If you have your truck, you can come here and buy it. We are selling at ₦699. The ₦699 includes the percentage of NMDPRA. So what actually comes out to us is about ₦389 or so,” he stated.
When contacted for a response to the allegations, the spokesman of the NMDPRA, George Ene-Ita, declined to comment, saying, “For now, no comment.”