Petrol to Sell at ₦739 Per Litre Nationwide from Tuesday — Dangote

By Peter Enahoro

Founder and President of the Dangote Group, Aliko Dangote, has announced that petrol will retail at ₦739 per litre nationwide from Tuesday, with sales commencing at MRS filling stations in Lagos.

Dangote disclosed this on Sunday during a press briefing at the Lekki Refinery, noting that the refinery had already reduced its gantry price from ₦828 to ₦699 per litre as part of efforts to bring down pump prices across the country.

“From Tuesday, MRS stations will begin selling petrol at ₦739 per litre. We will ensure strict compliance,” Dangote said, adding that marketers and bulk buyers are free to lift products directly from the refinery at the ₦699 gantry price.

He explained that the gantry price already includes regulatory charges, stressing that the refinery’s net earnings are significantly lower. Dangote accused some marketers of deliberately keeping pump prices high despite the availability of cheaper supply.

“₦970 is not the real price. Anyone with the capacity can buy petrol here at ₦699,” he said, warning that attempts to sabotage price reductions would be resisted.

According to him, the new pricing regime would eliminate inflated pump prices, beginning with MRS outlets in Lagos before spreading nationwide. “That ₦970 per litre, you won’t see it again,” he assured.

Dangote also urged members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) and other buyers to take advantage of the reduced gantry price, saying the refinery is ready to supply buyers willing to lift large volumes.

“We have asked anyone who can buy up to 10 trucks to come and buy at ₦699. Within one to 10 days, delivery will be completed. For December and January, petrol should not sell above ₦740 nationwide,” he stated.

On logistics, Dangote said transportation costs from the refinery range between ₦10 and ₦15 per litre, questioning pump prices approaching ₦900 in some areas.

“If everything costs about ₦715, why should anyone sell at ₦900?” he asked.

He also criticised the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over the issuance of multiple fuel import licences, warning that excessive imports could undermine local refining and threaten the survival of modular refineries.