Dangote promises further drop in petrol prices nationwide
Aliko Dangote, President of the Dangote Group, has assured Nigerians that the price of Premium Motor Spirit (PMS), commonly known as petrol, will continue to fall across the country.
This assurance comes less than 24 hours after he announced an initial price reduction. In a statement released on Monday, the company confirmed that MRS, which operates more than 2,000 filling stations nationwide, has already begun selling petrol in Lagos at ₦739 per litre, down from the previous ₦885.
Dangote stated that petrol prices would decline further, adding that from Tuesday, PMS would be sold at no more than ₦740 per litre at all MRS outlets, starting in Lagos.
He also revealed that the Dangote Petroleum Refinery had reduced its minimum fuel purchase requirement from two million litres to 500,000 litres. This decision is aimed at allowing more marketers, including members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), to access refinery products.
READ ALSO: Dangote Refinery slashes petrol price to ₦699 per litre
According to Dangote, marketers who purchase directly from the refinery can now obtain PMS at ₦699 per litre. He emphasized that the refinery is operating nonstop to ensure that recent reductions in gantry prices translate fully to lower pump prices for consumers.
Dangote highlighted the superior quality of locally refined petrol, explaining that fuel supplied by MRS and other refinery partners is straight-run PMS, unlike imported blended fuel. He said Nigerians now have the option to buy better-quality fuel at lower prices.
Despite opposition from some fuel importers who fear losses, Dangote maintained that the refinery was built primarily to serve Nigerians. He stated that importers who choose to continue bringing in fuel despite local availability must bear the consequences.
To support nationwide distribution, Dangote disclosed plans to deploy the refinery’s fleet of Compressed Natural Gas (CNG) trucks, with over 4,000 already available and more to be acquired if necessary.
READ ALSO: Dangote named inaugural chairman of ECOWAS business council
He concluded by describing the refinery as a vital national asset that must be protected, stressing his commitment to sustaining affordable fuel supply across the country through efficient logistics and domestic refining.
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