MRS and other partners of the Dangote Petroleum Refinery are set to begin selling petrol at N739 per litre, barring any last-minute changes.

This decision follows a recent reduction in the refinery’s petrol gantry price from N828 to N699 per litre. Speaking at a press briefing at the Lekki refinery on Sunday, Dangote Group President, Alhaji Aliko Dangote, acknowledged that despite lower gantry prices, some filling stations have kept pump prices high, undermining his efforts.

Dangote stated that MRS would start selling petrol at N739 per litre from Tuesday, with other partners expected to follow. He alleged that certain officials had met with some marketers to maintain high prices but affirmed his determination to enforce the new pricing structure.

“I was told that the marketers have met with officials and were instructed to keep prices high. But we are introducing a new price, starting with MRS stations most likely on Tuesday in Lagos. N970 per litre will no longer be seen. We’ve also invited IPMAN members and anyone who can buy 10 trucks to do so at N699,” he said.

Dangote emphasized that transporting petrol from the refinery costs no more than N15 per litre, questioning why pump prices have risen to as much as N900. He also criticized the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for issuing 47 import licences for over seven billion litres of petrol in the first quarter of 2026, arguing that this is harming local investment.

“Freight within Lagos is N10 to N15, so the cost should be around N715. Why sell at N900? People should pay the real price. We haven’t made any profit, and our tanks are full due to the reckless issuance of licences. Despite guaranteeing supply, NMDPRA plans to issue licences for 7.5 billion litres in Q1 2026,” Dangote explained.

He further noted that local modular refineries are struggling to survive, with most operating at a loss.

Assuring Nigerians that the N739 per litre price would be implemented, Dangote said, “Starting Tuesday, MRS will sell petrol at N739 per litre. We will enforce this low price. If you have a truck, you can come and buy at N699, which already factors in NMDPRA’s percentage, leaving us with about N389 per litre.”

When contacted for comment, NMDPRA spokesman George Ene-Ita declined to respond.