Dangote Refinery kicks, insists on N739/litre petrol price

Dangote Petroleum Refinery has begun the nationwide sale of Premium Motor Spirit (PMS) at a pump price of ₦739 per litre across all MRS Oil Nigeria Plc filling stations, describing any higher pricing as unacceptable.

The refinery said the development marks a major step in its drive to make fuel more affordable for Nigerians while bringing stability to the downstream petroleum sector.

With more than 2,000 MRS outlets spread across the country, the refinery noted that the new price is expected to be fully reflected nationwide, allowing consumers to enjoy the benefits of the reduction.

In a statement, Dangote Refinery praised marketers who have complied with the new pricing regime and appealed to others to do same in the national interest.

“We commend MRS and other marketers who have shown patriotism by adjusting their pump prices accordingly.

“We urge others to follow suit as a contribution to Nigeria’s economic recovery,” the statement said.

The refinery noted that fuel scarcity and sharp price increases have traditionally characterised the festive season.

However, it said its intervention has altered that trend by cutting pump prices at a time when Nigerians usually face higher costs.

It added that a guaranteed daily supply of 50 million litres of PMS would ensure steady availability throughout the holiday period.

According to the refinery, large-scale local refining is reducing Nigeria’s exposure to volatile international markets, conserving foreign exchange, supporting the naira, and strengthening the country’s energy security.

It said the sustained price reduction and stable supply are already easing pressure on households, businesses, and transport operators nationwide.

Dangote Refinery also warned against attempts by some operators to create artificial scarcity in response to the price cut, calling on relevant government agencies to remain vigilant and take decisive action.

“Any attempt to create artificial scarcity or manipulate supply to undermine recent price reductions is unpatriotic and unacceptable.

“Regulatory authorities must act firmly against such practices, particularly during this critical festive period,” the statement said.

Consumers were advised not to patronise stations selling fuel at inflated prices when cheaper, locally refined alternatives are available.

“We urge Nigerians to avoid buying PMS at excessively high prices when they can access high-quality, locally refined fuel at ₦739 per litre from over 2,000 MRS stations nationwide.

“Any MRS station selling above this price should be reported via 0800 123 5264,” the refinery stated.

The company also encouraged other fuel retailers to source products from the refinery to ensure that the price reduction is passed on to consumers across more outlets, thereby promoting market stability.

Reaffirming its long-term commitment, Dangote Petroleum Refinery said its operations are focused on steady supply, price moderation, and national energy security rather than short-term market gains.

“Our goal remains to guarantee consistent availability of high-quality petroleum products at affordable prices for Nigerians, while supporting economic stability and reducing dependence on fuel imports,” the refinery concluded.