THIS DAWN — Nigeria’s Dangote Petroleum Refinery and its distribution partners have announced a new petrol pump price of N739 per litre.
Industry observers described the move as a significant downward adjustment amid ongoing fuel price volatility in the downstream sector.
According to reports, the revised price was unveiled ahead of expected implementation beginning this week, with MRS and other refinery partners set to lead the new pricing regime starting from Tuesday.
The announcement is part of Dangote’s broader effort to reduce petrol costs for consumers.
Petrol costs, it was observed, have remained persistently high in recent months.
Dangote Group President, Alhaji Aliko Dangote, made the remarks at a press briefing at the Lekki refinery in Lagos.
Dangote said the new pricing will be enforced across partner retail stations, with the first rollout expected at MRS-operated filling stations.
He accused some marketers and officials of resisting price reductions by maintaining artificially elevated pump prices despite lower gantry costs at the refinery.
Dangote vowed to “fight to enforce the new price regime,” emphasising that petrol should not be sold above the N739 threshold nationwide.
Adjustments influencing market pricing
The initiative builds on a period of pricing adjustments at the Dangote Refinery over the past year.
It reflects efforts by the privately owned facility—Africa’s largest of its kind—to influence market pricing.
Throughout 2025, Dangote Petroleum has periodically cut its gantry and ex-depot prices to alleviate fuel costs for Nigerians.
Previous reductions had seen petrol pricing lowered in stages, with ex-depot prices falling significantly earlier this year before being reflected in retail pump prices in some regions.
Industry stakeholders say the refinery’s pricing strategy has also been shaped by wider market forces.
It includes fluctuating global crude oil prices and competitive pressures within the downstream sector.
In April, for example, Dangote announced a nationwide price reduction.
The reduction saw gantry pricing brought down to N820 per litre, with expected retail prices in the low- to mid-N800 range depending on region.
Despite these interventions, fuel prices at many retail outlets remain above anticipated cost levels, prompting Dangote’s recent push to assert more influence over pump pricing.
His comments underscore longstanding tensions between major domestic refiners and marketers, who have sometimes resisted passing on cost savings to motorists.
Consumers celebrate
The new N739 per litre price point has been welcomed by some consumer advocates.
They argue that it could substantially ease the financial burden of fuel costs if fully implemented.
However, sceptics note that actual retail prices at filling stations depend on factors beyond gantry costs.
They say it includes distribution expenses, marketers’ margins, and prevailing economic conditions.
Dangote’s announcement also came amid broader criticism of regulatory practices in the sector, with the refinery’s leadership alleging that licensing and import policies have undermined local refining competitiveness.
At the time of publication, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had yet to issue an official comment on the pricing directive.
Market watchers will be closely monitoring compliance with the N739 pricing model in the coming days to assess its impact on fuel affordability nationwide.
Recent pricing history shows multiple adjustments by Dangote and downstream partners throughout 2025.
Meanwhile, the refinery continues to influence Nigeria’s liberalised fuel market with periodic price reductions and direct distribution efforts.
