MRS and other partners of the Dangote Petroleum Refinery are set to begin selling petrol at N739 per litre, the refinery’s president Aliko Dangote said on Sunday.
The announcement comes two days after Dangote slashed its gantry price from N828 to N699 per litre.
Speaking at a press briefing at the Lekki refinery, Dangote said he was aware some filling stations choose to keep pump prices high despite lower gantry prices, thereby sabotaging his efforts.
MRS would commence sales at N739 per litre from Tuesday, while other partners would follow, he said.
Dangote alleged that some officials had met with certain marketers and encouraged them to keep prices high in order to frustrate the price reduction, adding that he would fight to enforce 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 said the refinery had asked members of the Independent Petroleum Marketers Association of Nigeria to buy fuel at N699 per litre, offering to sell to anyone who can purchase 10 trucks.
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“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.
Dangote said transporting petrol from the refinery costs no more than N15 per litre, questioning why pump prices would rise as high as N900 per litre.
He accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority of issuing 47 import licences to bring in more than seven billion litres of petrol in the first quarter of 2026, a move he said was killing local investments.
“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,” Dangote said.
He challenged critics of his refinery’s dominance to establish their own refineries or buy and operate existing facilities owned by the Nigerian National Petroleum Company Limited.
“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,” he said.
Dangote said modular refineries in Nigeria are almost on the verge of collapse, with none making profit.
The billionaire businessman assured Nigerians that the N739 per litre price would be enforced, beginning with MRS stations on Tuesday.
“We are selling at N699. The N699 includes the percentage of NMDPRA. So what actually comes out to us is about N389 or so,” he said.
