Founder and President of Dangote Group, Aliko Dangote, has announced that petrol prices will drop to ₦739 per litre nationwide, with implementation beginning Tuesday at MRS stations in Lagos. The move follows a reduction in the refinery’s gantry price from ₦828 to ₦699 per litre.
Dangote said the new price will be enforced and urged petroleum marketers to comply. He warned that attempts to maintain higher prices would be challenged and stressed that transporting petrol within Lagos costs no more than ₦15 per litre.
The Dangote Group CEO criticised some filling stations for deliberately keeping pump prices high, undermining the intended reduction. He encouraged buyers, including members of the Independent Petroleum Marketers Association of Nigeria, to purchase fuel at the lower gantry price.
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Dangote also raised concerns about the Nigerian Midstream and Downstream Petroleum Regulatory Authority issuing 47 import licences for over 7.5 billion litres of petrol for early 2026, saying it discourages local investment and threatens modular refineries.
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