Dangote Refinery and MRS Team Up to Sell Petrol at ₦935/Litre Nationwide

In a move that’s expected to spark a price war among oil marketers, Dangote Refinery has partnered with MRS to sell petrol at ₦935 per litre nationwide. This development comes on the heels of the Nigerian National Petroleum Company Limited (NNPC) slashing petrol prices below ₦1,000 per litre ¹.

According to Aliko Dangote, President of Dangote Industries Limited, the company has reduced the price of Premium Motor Spirit (PMS) from ₦970 to ₦899.50 at its refinery loading gantry. To ensure that this price reduction benefits end consumers, Dangote Refinery has partnered with MRS to sell petrol at ₦935 per litre through its retail outlets nationwide ¹.

This new pricing has already taken effect in Lagos and will be rolled out nationwide from Monday. Dangote has called on other oil marketers, including NNPC Retail, to join forces to provide high-quality petrol at discounted prices ¹.

The Dangote Refinery’s move is seen as a response to the positive impact of the naira-for-crude swap deal on the Nigerian economy. The deal, approved by President Bola Tinubu in September, allows for the sale of crude to local refineries in naira and the corresponding purchase of petroleum products in naira. This has reduced pressure on the dollar and ensured the stability of the local currency ¹.

With this partnership, Dangote Refinery aims to provide Nigerians with access to high-quality petroleum products at affordable prices. As Dangote noted, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will continue to work with various value chain players to deliver high-quality petrol at cheaper prices” ¹.