Dangote Shocks Market, Drops Petrol Price To ₦739 Nationwide.

Dangote Petroleum Refinery has announced that premium motor spirit (PMS), commonly known as petrol, is now being sold at ₦739 per litre at all MRS Oil Nigeria Plc filling stations across the country.....KINDLY READ THE FULL STORY HERE▶

The company described the move as a key milestone in its mission to make petrol more affordable and stabilize Nigeria’s downstream petroleum sector. With more than 2,000 MRS outlets nationwide, the refinery expects the new pump price to be consistently implemented, ensuring Nigerians benefit from the reduction.

In a statement released on Sunday, Dangote Refinery praised MRS and other marketers for reflecting the lower price at the pumps and urged other operators to follow suit to support Nigeria’s economic recovery. The refinery highlighted that the festive season typically sees fuel scarcity and rising prices, but its intervention has altered this trend.

“Dangote Refinery has delivered a decisive market intervention—reducing pump prices at a time when Nigerians normally face fuel hardships,” the statement read. The company confirmed that it guarantees a daily supply of 50 million litres, significantly impacting supply dynamics during the holiday period.

The refinery emphasized that local large-scale refining helps Nigeria reduce dependence on volatile global markets, conserve foreign exchange, stabilize the naira, and strengthen energy security. Steady supply and moderated prices are already easing the burden on households, businesses, and transport operators nationwide.

Dangote Refinery warned against attempts by unscrupulous operators to create artificial fuel scarcity or manipulate supply to counteract the price reduction, calling such actions unpatriotic and unacceptable. Regulatory agencies were urged to monitor the market closely and take firm action where necessary.

Consumers were also encouraged to avoid purchasing petrol at inflated rates when cheaper, locally refined fuel is available, and to report any station selling above the approved price by calling 0800 123 5264. The refinery appealed to other station operators to stock its products to extend the benefits of the price reduction across the country.