Dangote Petroleum Refinery has commenced nationwide sales of Premium Motor Spirit (PMS) at a pump price of ₦739 per litre, with the product now available across all MRS Oil Nigeria Plc filling stations nationwide.
The development marks a significant step in the refinery’s effort to make fuel more affordable, stabilise the downstream petroleum market and ease pressure on consumers, particularly during the festive season. With over 2,000 MRS stations spread across the country, the new price is expected to take immediate effect nationwide.
In a statement, the refinery’s management praised marketers that have implemented the revised price and urged others to follow suit in the national interest.
“We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump. We call on others to join this effort as a show of support for Nigeria’s economic recovery,” the statement said.
The refinery described the price cut as a timely market intervention, noting that fuel scarcity and price hikes often worsen during festive periods. Backed by a guaranteed daily supply of 50 million litres, the move is expected to ease pressure on households, businesses and transport operators.
Industry analysts say increased local refining capacity is helping Nigeria reduce exposure to volatile global markets, conserve foreign exchange, stabilise the naira and strengthen energy security.
Dangote Refinery also warned against attempts by what it called unscrupulous operators to create artificial scarcity in response to the price reduction, urging regulatory agencies to remain vigilant.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable,” the statement added.
Consumers were advised to avoid purchasing petrol at inflated prices when cheaper alternatives are available and to report any MRS outlet selling above ₦739 per litre via 08001235264.
Reaffirming its long-term commitment, the refinery said its objective remains to ensure steady supply, price moderation and reduced dependence on fuel imports.
“Our objective remains clear: to ensure a consistent supply of high-quality petroleum products at affordable prices for Nigerians,” it stated.
The refinery has also strengthened its distribution strategy through recent measures, including reducing the gantry price of PMS to ₦699 per litre, cutting the minimum purchase volume from 2 million litres to 250,000 litres, and introducing a 10-day bank guarantee system to support marketers. Industry sources say the refinery now loads over 1,000 PMS trucks daily.
Speaking on the development, President of the Dangote Group, Aliko Dangote, said the initiative is aimed at making energy affordable and accessible nationwide.
“By reducing prices and lowering the minimum purchase volume, we are empowering both large and small marketers to ensure fuel reaches every corner of the country,” he said, adding that the project is driven by legacy rather than profit.
Meanwhile, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged its members to patronise the Dangote Refinery, describing its PMS price as the most competitive in the market. IPMAN President Alhaji Abubakar Maigandi assured Nigerians of uninterrupted supply, noting that the association controls over 80 per cent of the PMS retail market.
