Chairman of the Dangote Petroleum Refinery, Aliko Dangote, has announced that filling stations operated by MRS and other marketers lifting fuel from his refinery will begin selling Premium Motor Spirit (PMS) at N739 per litre in Lagos from Tuesday.
Dangote disclosed this on Sunday during a press briefing, noting that the refinery recently reduced its ex-depot price from N828 to N699 per litre.
He said the latest adjustment, which took effect on December 11, 2025, marked the 20th petrol price review by the refinery this year as it continues to stabilise domestic fuel supply.
Speaking at the Lekki refinery, Dangote urged members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) to patronise the refinery, assuring them that petrol would continue to be sold to marketers at N699 per litre.
“We are starting with MRS stations, most likely on Tuesday in Lagos. Any marketer that can take 10 trucks can buy at N699,” he said.
Dangote expressed confidence that fuel prices would remain stable during the festive season, adding that the company aims to ensure petrol is not sold above N740 per litre nationwide in December and January.
Dangote criticised the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over what he described as reckless issuance of licences, saying the refinery was still capable of meeting local demand despite approvals for large import volumes.
He disclosed that the refinery purchases over 100 million barrels of crude oil annually from the United States, with plans to double that volume as capacity increases. He also said the NNPC Limited supplies between 4.5 and 5 million barrels of crude monthly to the refinery.
Dangote further revealed plans to list the refinery on the Nigerian Exchange, allowing Nigerians to own shares in the company.
“Our goal is to list so every Nigerian can own part of the refinery. There will be no cap on ownership,” he said, adding that dividends to diaspora investors would be paid in dollars.
Dangote said the Federal Government had approved a 15 per cent import duty on refined petroleum products to protect local refining, noting that the refinery reduced petrol prices despite the suspension of the policy.
He also accused some fuel marketers of undermining local refining through continued imports and warned that his company would resist attempts to sabotage its operations.
Dangote added that he was considering legal action against alleged saboteurs, saying corruption in the oil sector remained a major challenge.
