Breaking: Dangote Refinery Slashes Petrol Price Sparks Nationwide Relief

The Dangote Petroleum Refinery has begun the nationwide sale of premium motor spirit (PMS), commonly known as petrol, at a pump price of ₦739 per litre at all MRS Oil Nigeria Plc filling stations across the country.

According to the refinery, the price reduction represents a significant step toward making petrol more affordable and bringing stability to Nigeria’s downstream petroleum sector.

With over 2,000 MRS outlets nationwide, Dangote Refinery said the new price will be uniformly applied across all stations, ensuring that consumers in every part of the country benefit from the reduction.

In a statement issued on Sunday, the refinery praised MRS and other marketers for promptly reflecting the reduced price at the pumps, describing the move as an act of patriotism.

“We urge other marketers to follow suit as a demonstration of support for Nigeria’s economic recovery,” the statement said.

The refinery noted that the festive season is traditionally marked by fuel shortages and price hikes, but said its intervention has disrupted this long-standing trend.

“Dangote Refinery has executed a decisive market intervention by significantly lowering pump prices at a time when Nigerians usually prepare for fuel-related hardship,” it stated.

The company added that the initiative is supported by a guaranteed daily supply of 50 million litres, fundamentally reshaping fuel supply dynamics during the holiday period.

It further explained that large-scale local refining is reducing Nigeria’s dependence on volatile international markets, conserving foreign exchange, strengthening the naira and enhancing national energy security.

The refinery said consistent supply and moderated prices are already easing pressure on households, businesses and transport operators nationwide.

However, Dangote Refinery cautioned against actions by “unscrupulous” operators who may attempt to create artificial scarcity in response to the price cut.

“Any effort to manipulate supply or create artificial shortages to undermine recent price reductions is unpatriotic and unacceptable,” the statement warned.

The refinery called on regulatory agencies to remain alert and take decisive action against such practices, particularly during the festive season.

It also advised consumers to avoid purchasing petrol at inflated prices when cheaper, locally refined alternatives are readily available.

“Nigerians are encouraged to buy PMS at ₦739 per litre from over 2,000 MRS stations nationwide rather than paying excessive prices elsewhere,” the statement said.

Consumers were urged to report any MRS station selling above the approved price by calling 0800 123 5264.

Finally, the refinery appealed to other fuel marketers to patronise its products so that the benefits of the price reduction can be extended nationwide.