Dangote Refinery to Sell Petrol at N739 Per Litre from Tuesday
In a move set to ease fuel costs, MRS and other partners of the Dangote Petroleum Refinery are expected to start selling petrol at N739 per litre, unless there are last-minute changes.
The announcement comes just two days after the refinery reduced its gantry price from N828 to N699 per litre. At a press briefing at the Lekki refinery on Sunday, Dangote Group President Alhaji Aliko Dangote expressed frustration that, despite lower gantry prices, some filling stations continue to sell petrol at higher rates, undermining efforts to make fuel more affordable.
Dangote confirmed that MRS would lead the rollout of the N739 per litre price starting Tuesday, with other partners following suit. He alleged that certain officials had met with marketers and encouraged them to keep pump prices high, but pledged to enforce the new pricing.
“I was told that marketers were advised to maintain high prices. But we’re starting with MRS stations in Lagos from Tuesday. Prices like N970 per litre will be a thing of the past. We’ve also asked IPMAN members to cooperate,” Dangote said.
He explained that local freight costs are minimal—between N10 and N15 within Lagos—so petrol should realistically sell for around N715. “Why sell at N900? Consumers deserve the real price. We’re not making profits on this, but our tanks are full because NMDPRA has issued excessive licenses. We’ll raise this with the government,” he added.
Dangote also addressed claims of monopoly, noting that 47 new licenses have been issued, and encouraged competitors to set up refineries or operate NNPC facilities if profitable. “Before, NNPC handled all fuel imports. Now, we and a few modular refineries are producing. But most modular refineries are struggling financially,” he said.
The billionaire assured Nigerians that the new N739 per litre price would be enforced, starting with MRS stations. “From Tuesday, MRS will sell petrol at N739 per litre. Anyone with a truck can buy at that price. The N699 we charge at the gantry includes NMDPRA percentages, so our actual earnings are roughly N389 per litre,” he explained.
When contacted, NMDPRA spokesman George Ene-Ita declined to comment. 
