The President of Dangote Group, Aliko Dangote, says Premium Motor Spirit (PMS), fondly called petrol, would sell at no more than N740 per litre from Tuesday, December 16, 2025, beginning in Lagos State.
Dangote made this known while speaking at a press conference at the Dangote Petroleum Refinery in Lagos on Sunday.
The business mogul said the petrol price reduction was because his refinery reduced the gantry price to N699 per litre.
He disclosed that the MRS filling stations would be the first to reflect the new price, adding that Nigerians would ultimately benefit from local refining, even as fuel importers incur losses.
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The businessman noted that the company was working around the clock to ensure that recent reductions in the gantry price were fully reflected at the retail level.
Dangote also disclosed that the refinery had reduced its minimum purchase requirement from two million litres to 500,000 litres to enable more marketers to participate.
Dangote said: “We will enforce the low price. We will make sure of that.
“So if you come to the refinery today, you will get PMS at N699 per litre.
“Nigerians have a choice to buy better quality fuel at a more affordable price or to buy blended PMS at a higher rate. Importers can continue to lose, so long as Nigerians benefit.”
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