Dangote Petroleum Refinery and its distribution partners will begin selling petrol at N739 per litre nationwide.
The decision follows a significant reduction in the refinery’s gantry price to N699 per litre.
Aliko Dangote disclosed this during a media briefing held at the Lekki refinery.
Dangote explained that lower refinery prices often fail to reflect at filling stations.
He blamed some marketers for deliberately keeping pump prices artificially high.
According to him, such actions undermine efforts to ease fuel costs for Nigerians.
He announced that MRS filling stations will implement the N739 price starting Tuesday.
Other partner marketers are expected to adjust their prices shortly afterward.
Dangote stressed that petrol should not sell above N740 during December and January.
Furthermore, he accused certain officials of encouraging marketers to resist price reductions.
Dangote vowed to confront anyone attempting to sabotage the new pricing structure.
He promised to deploy all available resources to ensure compliance nationwide.
Dangote stated that marketers can buy petrol directly from the refinery at N699 per litre.
He added that buyers only need the capacity to lift at least ten trucks.
This, he said, ensures fair access and price transparency.
He highlighted that fuel transportation within Lagos costs between N10 and N15 per litre.
Based on this, Dangote petroleum questioned pump prices exceeding N900 per litre.
He insisted consumers deserve pricing that reflects actual logistics costs.
Dangote also criticized the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
He alleged the agency issued multiple import licences for early 2026.
According to him, these licences threaten local refining investments.
He dismissed monopoly accusations, noting that 47 import licences were approved.
Dangote challenged competitors to invest locally if refining remains profitable.
He observed that many modular refineries are struggling financially.
Despite challenges, Dangote reassured Nigerians of adequate fuel supply.
He confirmed that enforcement begins with MRS stations before expanding nationwide.
