Aliko Dangote, the Chairman of Dangote Petroleum Refinery, announced that starting Tuesday in Lagos, MRS and other filling stations that purchase Premium Motor Spirit (PMS) from his refinery will begin dispensing fuel to consumers at N739 per litre.
Dangote made this statement during a press briefing on Sunday, reiterating the refinery’s recent reduction of the ex-depot price from N828 to N699 per litre.
This latest cut, which has been “widely acknowledged,” represents a substantial N125 reduction at a go.
The N699 ex-depot price took effect on December 11, 2025, marking the 20th petrol price adjustment implemented by the refinery this year as it works to stabilize domestic supply.
Speaking at the refinery, Dangote appealed to members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) to patronize the refinery, confirming that sales to marketers would remain at N699 per litre.
He specified the rollout plan:“We are going to start with MRS stations, most likely on Tuesday, in Lagos. We have also asked members of IPMAN to come. Anybody who can buy 10 trucks, come and buy at N699.”
Dangote expressed confidence in his company’s commitment to easing the financial pressure of fuel prices during the Yuletide season.
He outlined an ambitious goal for the immediate future:“We are going to use whatever resources we have to make sure that we crash the price down. By the grace of God, within a week to 10 days, we will be able to deliver. We don’t want to see, at least for this December and January, petroleum products sold above N740 nationwide.”
Finally, Dangote issued a stern warning that his company “would resist any attempts to sabotage” efforts aimed at stabilizing fuel prices across the country.
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