- ‘₦739 Petrol Price Begins Tuesday’ – Dangote Assures Nigerians
- Refinery cuts gantry price to ₦699 per litre
- Dangote alleges price sabotage by some marketers
President of the Dangote Group, Aliko Dangote, has said the ₦739 per litre petrol price will be strictly enforced from Tuesday, starting with MRS Oil and Gas filling stations.
Dangote made the declaration on Sunday during a press briefing at the Dangote Petroleum Refinery in Lekki, Lagos, saying the move was aimed at ensuring Nigerians benefit from the recent reduction in fuel prices.
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“Starting from Tuesday, MRS will start selling petrol at ₦739 per litre. Definitely, we will enforce that low price. We will make sure that it’s implemented. If you have your truck, you can come here and buy it. We are selling at ₦699,” he said.
EKO HOT BLOG reports that he explained that the ₦699 gantry price already includes statutory charges, adding that the refinery was operating at a minimal margin. According to him, MRS Oil and Gas and other partners of the refinery are expected to begin sales at the new pump price, barring any last minute change.
The decision comes days after the refinery reduced its petrol gantry price from ₦828 to ₦699 per litre. Dangote expressed concern that despite such reductions, some filling stations often keep pump prices high.
“I was told that marketers met with some officials and were encouraged to keep prices high. But the ₦970 per litre price will not be seen again,” he said, adding that members of the Independent Petroleum Marketers Association of Nigeria had also been invited to buy directly.
Dangote vowed that the refinery would deploy all available resources to bring down fuel prices nationwide within days.
“We are going to use whatever resources we have to crash the price. Within a week to 10 days, we will be able to deliver,” he said.
He insisted Nigerians should not pay more than ₦740 per litre for petrol in December and January, questioning why pump prices rise to ₦900 when transportation costs are minimal.
Dangote also accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority of issuing multiple petrol import licences despite local supply assurances. He rejected claims of monopoly, noting that no investor was prevented from building refineries, while many modular refineries were struggling.
As of filing this report, the regulator had not responded.
