Dangote Petroleum Refinery has announced a reduction in the retail price of Premium Motor Spirit, popularly known as petrol, directing partner filling stations to begin selling the product at ₦739 per litre from Tuesday in Lagos.
Chairman of the Dangote Group, Alhaji Aliko Dangote, disclosed this while speaking on the pricing of petrol supplied from the refinery. He said filling stations operated by MRS Oil Nigeria Plc and other marketers purchasing fuel directly from the refinery are expected to comply with the new pump price.
Dangote explained that the price adjustment follows a recent reduction in the refinery’s gantry price, adding that the company is committed to ensuring that cost savings are passed on to consumers. He expressed concern that some marketers had continued to sell petrol at higher prices despite reductions at the supply level.
According to him, the refinery will not tolerate excessive pricing by retail outlets and will continue to work with its partners to ensure transparency and fairness in fuel distribution. He noted that the ₦739 per litre price applies initially to Lagos due to logistics and distribution considerations, with expectations that other locations will reflect similar adjustments as distribution stabilises.
The announcement comes amid ongoing changes in Nigeria’s downstream petroleum sector following fuel subsidy removal and increased reliance on locally refined products. Industry watchers say the new price could bring some relief to motorists and help moderate transportation costs if widely implemented.
Dangote Petroleum Refinery, Africa’s largest single train refinery, has positioned itself as a key player in stabilising fuel supply and pricing in the country, with stakeholders closely watching how the new pump price will be enforced across filling stations.
