Lagos, December 15, 2025

Petrol prices are set for a sharp adjustment as partners of the Dangote Petroleum Refinery prepare to sell fuel at N739 per litre, starting in Lagos this week.

The new pump price follows a reduction in the refinery’s gantry price, which was cut from N828 to N699 per litre on Friday. According to Aliko Dangote, President of the Dangote Group, the lower wholesale price should translate directly to relief for motorists, provided marketers pass on the savings.

Speaking on Sunday at the Lekki refinery, Dangote said MRS Oil Nigeria would begin selling petrol at N739 per litre from Tuesday, with other partner filling stations expected to follow shortly after.

Push to ensure lower prices reach consumers

Dangote acknowledged that past price reductions at the gantry level have not always reflected at filling stations. According to him, some marketers often keep pump prices elevated, even when supply costs drop.

He alleged that certain officials had held meetings with marketers and encouraged them to maintain higher prices, a move he described as an attempt to frustrate the impact of the refinery’s price cut.

“I was told that some marketers were advised to keep prices high,” Dangote said. “But with the price we are introducing now, starting with MRS stations in Lagos, prices as high as N970 per litre will no longer be seen.”

He added that independent marketers, including members of the Independent Petroleum Marketers Association of Nigeria, had been invited to lift products directly from the refinery at the new gantry price.

Nationwide target of N740 per litre

Dangote said his goal is to ensure that petrol does not sell above N740 per litre anywhere in the country throughout December and January.

According to him, transport costs from the Lekki refinery should not exceed N15 per litre, even within Lagos. He questioned why some stations sell petrol for as much as N900 per litre under such conditions.

“If freight is N10 or N15 per litre, then total cost should be around N715,” he said. “There is no justification for selling at N900. People deserve to pay the real price.”

He stressed that the refinery is ready to sell petrol at N699 per litre to any buyer capable of lifting at least 10 truckloads, adding that the company would use all available resources to force prices down across the market.

Criticism of fuel import licences

Dangote also criticised the Nigerian Midstream and Downstream Petroleum Regulatory Authority for issuing import licences he described as excessive. He claimed the regulator approved 47 licences to import about 7.5 billion litres of petrol for the first quarter of 2026, despite assurances that local refineries could meet demand.

According to Dangote, the policy is hurting domestic refining investments and has left storage tanks full at his facility.

“These licences are being issued even when we have guaranteed sufficient supply,” he said. “Local producers are struggling, and some modular refineries are close to shutting down.”

He rejected claims that the Dangote Refinery is operating as a monopoly, noting that importers remain active and that other investors are free to build or acquire refineries if the business is profitable.

Regulator declines comment

Dangote assured consumers that the N739 pump price would be enforced, beginning with MRS stations from Tuesday. He said the refinery’s ex-depot price already includes statutory charges payable to the regulator.

When contacted for a response, the spokesperson of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, George Ene-Ita, declined to comment.

Industry analysts say the coming days will test whether the lower gantry price can finally translate into sustained relief at the pumps, especially as Nigerians grapple with high transport and living costs.