iDeemlawfulBarring any last-minute changes, MRS and other marketing partners of the Dangote Petroleum Refinery are expected to begin retailing petrol at N739 per litre.
The development comes two days after the refinery reduced its ex-depot petrol price from N828 to N699 per litre. Speaking during a press briefing at the Lekki refinery on Sunday, the President of the Dangote Group, Alhaji Aliko Dangote, said he was aware that despite reductions at the gantry level, some filling stations often keep pump prices high, undermining efforts to lower fuel costs.
According to him, MRS will begin selling petrol at N739 per litre from Tuesday, with other partners expected to follow suit. Dangote alleged that certain officials had held meetings with marketers and encouraged them to maintain high prices in a bid to frustrate the price cuts, stressing that he was determined to ensure compliance with the new pricing structure.
“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. 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.
“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 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. That’s not the price. If you have money to come and buy, you can pick up petrol at N699,” he said.
Dangote stated that the cost of transporting petrol from the refinery does not exceed N15 per litre, questioning why pump prices should climb to as high as N900 per litre. He also accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority of issuing 47 import licences for over seven billion litres of petrol in the first quarter of 2026, a decision he said was detrimental to local investments.
“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. 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 assured Nigerians that the N739 per litre pump price would be enforced, starting with MRS stations on Tuesday. “Starting from Tuesday, MRS will start selling petrol at N739/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 N699. The N699 includes the percentage of NMDPRA. So what actually comes out to us is about N389 or so,” he stated.
When contacted for a reaction, the spokesperson of the NMDPRA, George Ene-Ita, said, “For now, no comment.”
