Dangote Announces New Fuel Pump Price At Filling Stations, Declares 'No More N970 per litre'

• Dangote Refinery has announced new fuel pump price for its partner filling stations ahead of Christmas
• This followed a gantry price cut to N699 per litre for customers buying in bulk and petrol marketers
• Aliko Dangote has accused some marketers and officials of deliberately keeping pump prices high and vowed to enforce nationwide compliance

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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Dangote Petroleum Refinery said petrol sold through its partner filling stations, including MRS Oil Nigeria Plc, will be priced at N739 per litre, as the company moves to force through a recent reduction in fuel prices.

Barring any last-minute change, MRS stations are expected to begin selling petrol at the new price from Tuesday, December 16, with other partner outlets like Ardova, Conoil Plc, Eterna Plc, and others to follow.

The new fuel pump price was disclosed by Alhaji Aliko Dangote, the president of Dangote Group. The announcement comes two days after the refinery slashed its ex-depot, or gantry, price for petrol to N699 per litre from N828.

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Dangote Refinery speaks on new fuel price

Speaking at a press briefing at the Lekki refinery, Dangote said he was aware that some marketers often keep pump prices high despite lower gantry prices, undermining efforts to pass cost reductions to consumers.

He said:

“Starting from Tuesday, MRS will start selling petrol at N739 per litre. Definitely, we will enforce that low price. That N970 per litre, "You won’t buy petrol at N970 per litre again."

He alleged that some officials had met with certain marketers and encouraged them to maintain high pump prices in order to frustrate the price reduction, adding that the company would use all available resources to ensure the new price regime is implemented.

Dangote said the refinery had opened sales to independent marketers, including members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), noting that any buyer capable of lifting 10 truckloads could purchase petrol at the N699 gantry price.

Dangote added:

“For this December and January, we don’t want people to sell petrol for more than N740 nationwide. Those who want to keep the price high to sabotage the government, we will fight as much as we can to make sure that these prices come down.”

He questioned why pump prices should approach N900 per litre, arguing that transporting petrol from the Lekki refinery costs no more than N10 to N15 per litre, Punch reports.

He asked.

“Freight within Lagos is N10 or N15, maximum. So if it’s N10 to N15, everything is going to cost you about N715. Why do you want to sell at N900?”

Dangote accuses NMDPRA

Dangote also criticised the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), accusing the regulator of issuing 47 import licences to import more than seven billion litres of petrol in the first quarter of 2026, a move he said is harming local refining investments.

According to him, the refinery has sufficient capacity to meet domestic demand, adding that the continued issuance of import licences had left its storage tanks full.

“They are now ready to issue licences for about 7.5 billion litres for the first quarter of 2026, despite the fact that we have guaranteed to supply enough quantity, "Dangote said, describing the move as “reckless”.

He also rejected claims that the Dangote refinery was operating as a monopoly, noting that Nigeria had several licensed modular refineries, though many were struggling to remain viable.

NNPC revises petrol price

Earlier, Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) has revised petrol prices at its retail outlets nationwide.

In Lagos, the pump price dropped from N910 to N890 per litre, while in Abuja, it fell from N940 to N920 per litre.

The reduction marks the company’s second downward review in recent weeks, following an earlier cut from N920 per litre.

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Proofreading by James Ojo, copy editor at Legit.ng.