Business & Economy

Dangote Refinery Partners with MRS to Sell Petrol at N935/Litre

Published

8 hours ago

Dec 22, 2024.

Dangote Industries Limited President, Aliko Dangote, has applauded President Bola Tinubu’s naira for crude swap deal, citing its positive impact on Nigeria’s economy and the subsequent reduction in petrol prices.

Eko Hot Blog reports that im a statement released on Saturday, Dangote announced a partnership with MRS Petrol station, which will see petrol sold at N935 per litre across MRS retail outlets nationwide.

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It said the partnership is to ensure that this price reduction gets to the end consumers.

Recall that on Thursday, the 650,000 barrels per day refinery announced an N71 price reduction to N899.50 for interested marketers while offering credit facilities to ease off taking.

The development has promoted a pricing war in the downstream sector, with the National Nigerian Petroleum Company Limited announcing a price reduction to N899 per litre.

The statement read, “Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote, has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to a reduction in prices of petroleum products in the country.

Dangote Refinery Partners with MRS to Sell Petrol at N935/Litre

“To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.

“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre.”

This price has already commenced in Lagos, and it will be offered nationwide from Monday.

In the statement, Dangote also called on other oil marketers such as the NNPC retail and all others, “To work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.

“The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will, therefore, continue to work with various value chain players to deliver high-quality petrol at cheaper prices.

Our aim is for all Nigerians to have ready access to high-quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.”

Recall that in September, the Federal Executive Council, under the leadership of Tinubu, approved the sale of crude to local refineries in Naira and the corresponding purchase of petroleum products in Naira.