Nigeria’s fuel market is set for a major shake-up starting Tuesday as MRS Oil and Gas, in partnership with Dangote Refinery, begins selling petrol at N739 per litre across the country.
This follows Dangote Refinery’s decision to slash its gantry price from N828 to N699 per litre at its Lekki facility, a move aimed at bringing relief to millions of Nigerians struggling with high fuel costs.
Speaking on Sunday, Dangote Group President Aliko Dangote revealed that some marketers have been resisting the price cut, continuing to sell at inflated rates despite the reduced supply costs.
MRS filling stations will lead the implementation of the new pricing on Tuesday, with other partner stations expected to follow suit in the coming days.
Dangote claimed that certain officials held meetings with marketers, urging them to keep prices high to undermine the planned reduction. But he vowed not to back down.
“The price will start with MRS stations, likely on Tuesday in Lagos. That N970 per litre you’re seeing now, it won’t be there anymore,” he said.
Independent marketers have also been invited to buy directly from the refinery at N699 per litre.
Dangote emphasized that anyone with capacity to purchase at least 10 trucks can access the reduced rate.
“We’re using all available resources to bring down the price. Within one week to 10 days, Nigerians will feel the difference.
For December and January, petrol shouldn’t sell for more than N740 per litre anywhere in Nigeria,” he stated.
He questioned why fuel is still being sold at nearly N900 per litre when transportation costs within Lagos add only N10 to N15 per litre, bringing total costs to around N715.
Dangote also criticized the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for issuing what he called excessive import licenses that hurt local refining.
He claimed 47 import licenses covering approximately 7.5 billion litres of petrol are being prepared for the first quarter of 2026, despite local capacity to meet demand.
“Our tanks are full, yet import licenses are still being issued. This is damaging local refineries. Many modular refineries are struggling to survive,” he said.
Addressing monopoly concerns, Dangote insisted the market remains competitive. “We didn’t stop anyone. If it’s profitable, let them build refineries or buy existing ones and operate them.”
He assured Nigerians that the price reduction would be enforced starting Tuesday, with MRS stations selling at N739 per litre while the refinery sells directly to marketers at N699.
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