Lagos, Nigeria — In a major development set to ease fuel costs for motorists, Aliko Dangote, President of the Dangote Group, has announced that petrol will be sold at ₦739 per litre starting Tuesday, December 16, 2025. The initiative is expected to bring some relief to Nigerian drivers amid rising living costs and fluctuating pump prices nationwide.
Speaking at a press briefing at the Dangote Petroleum Refinery in Lekki, Lagos, Dangote revealed that the new retail price will be implemented initially through MRS Oil Nigeria Plc stations before being adopted by other partner outlets.
“Our objective is to ensure that the price of petrol remains affordable,” Dangote said, addressing concerns over inconsistent price adjustments at filling stations. He acknowledged that despite reductions in ex-depot (gantry) costs, some stations have been refusing to pass the savings on to consumers.
He noted with concern that certain fuel marketers had allegedly met with some officials and been encouraged to keep prices high, undermining efforts to lower costs for motorists. “But this price we are going to introduce, we are going to start with MRS stations most likely on Tuesday in Lagos; that ₦970 per litre, you won’t see it again,” Dangote stated.
Context of Price Adjustments
The decision follows an earlier reduction in the refinery’s petrol gantry price from ₦828 to ₦699 per litre, a cut aimed at reducing product costs amidst slowing economic pressures. Industry observers say Dangote’s pricing strategy is part of broader efforts to make refined fuel more accessible and to stimulate competition in the downstream sector.
Under Nigeria’s deregulated downstream fuel market, private refineries like Dangote’s are free to set prices depending on supply agreements and operational costs. The refinery’s 650,000 barrels-per-day capacity has been instrumental in shaping local petrol pricing dynamics since it began operations. Analysts believe greater adoption of locally refined petrol could gradually reduce dependence on imported fuel and help stabilise the domestic energy market.
Reactions and Expectations
Motorists and consumer groups have welcomed the announcement, anticipating significant savings at the pump if the ₦739 pricing is widely applied. However, some industry watchers caution that ensuring compliance by all filling stations will be critical to achieving the intended benefits.
Some experts also highlight the need for continuous monitoring to prevent price manipulation by marketers, especially in regions outside Lagos where logistical costs can influence pump rates.
Looking Ahead
Dangote has reiterated his commitment to keeping petrol prices below ₦740 per litre throughout the festive season and beyond, assuring that additional measures will be taken if necessary to enforce compliance and protect consumers.
The new pricing scheme is expected to be welcomed by transport unions and small-scale businesses that rely heavily on fuel, offering potential relief ahead of the peak travel period and holidays.