Filling Stations to Sell Petrol at ₦739 Per Litre from Tuesday, Says Dangote
Chairman of Dangote Petroleum Refinery, Alhaji Aliko Dangote, has announced that filling stations purchasing Premium Motor Spirit (PMS) from his refinery will begin dispensing petrol at ₦739 per litre from Tuesday in Lagos.
Dangote disclosed this while speaking on the refinery’s latest pricing decision, noting that the move is aimed at easing the burden of fuel costs on Nigerians and stabilising prices in the downstream petroleum sector.
According to him, MRS Oil Nigeria Plc and other filling stations sourcing PMS directly from the Dangote Petroleum Refinery will implement the new pump price, following a recent reduction in the refinery’s ex-depot price of petrol.
The refinery had earlier adjusted its gantry price downward, a development Dangote said made it possible for marketers to sell petrol at a lower and more affordable rate without incurring losses.
Dangote explained that the refinery is committed to ensuring that Nigerians enjoy the benefits of local refining, stressing that the reduction reflects savings from improved operational efficiency and reduced reliance on imported fuel.
“This decision is part of our effort to support the economy and provide relief to consumers, especially during a period of high transportation and living costs,” he said.
The price cut is expected to have a positive impact on transportation fares and the general cost of living, particularly in Lagos, where fuel consumption is high. Industry watchers believe the move could also put pressure on other fuel suppliers to review their pump prices downward.
The Dangote Petroleum Refinery, Africa’s largest single-train refinery, has continued to play a growing role in Nigeria’s fuel supply since commencing operations, with stakeholders viewing the latest development as a significant step toward achieving price stability in the petroleum market.
