… gantry price drops to ₦699, as refinery to undergo major RFCC, CDU overhaul starting December, lasting until Feb.2026
Dangote alleges NMDPRA issued import licences for 7.5 billion litres of PMS for Q1 2026
.. threatens legal action to validate Farouk, CE NMDPRA’s alleged $5 m tuition payments
Oredola Adeola
Aliko Dangote, President and Chief Executive of Dangote Industries Limited, has announced that Premium Motor Spirit (petrol) will sell for no more than ₦740 per litre from Tuesday across all MRS filling stations in Lagos, following the refinery’s reduction of the gantry price to ₦699 per litre.
He made this known during at a press conference at the Dangote Petroleum Refinery on Sunday.
Check by Advisors Reports showed that the price adjustment comes as the refinery prepares to commence full scheduled maintenance on its Residue Fluid Catalytic Cracking (RFCC) and the Crude Distillation Unit (CDU) unit between December and run through February.
Checks showed that this is the first time since September 2024, that the petrol gantry (ex-depot) price reductions would go below N700.
Since petrol loading from the Dangote Refinery began on September 15, 2024, the gantry price has steadily declined from about ₦898 per litre to a current low of ₦699 per litre as of December 11–12, 2025.
Key reductions include cuts from ₦950 to ₦890 (Feb. 1, 2025), ₦890 to ₦825 (Feb. 27, 2025), adjustments around ₦835 in April 2025, drops to ₦820 in August–September 2025, ₦828 in early November 2025, and finally the sharp reduction to ₦699 per litre in December 2025.
At the press conference, the Dangote Group Chairman assured Nigerians that the pump price of petrol would decline further, adding that MRS filling stations would be the first to reflect the new pricing regime.
He said the company was working round the clock to ensure that recent reductions in the gantry price were fully passed on to consumers at the retail level.
According to him, from Tuesday, all MRS filling stations will sell PMS at prices not exceeding ₦740 per litre, starting in Lagos, while the refinery has also reduced its minimum purchase requirement from two million litres to 500,000 litres to enable more marketers, including members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), to participate.
Dangote noted that PMS is currently available at the refinery at ₦699 per litre, stressing that despite frustration and alleged sabotage, the refinery would deploy its Compressed Natural Gas (CNG) trucks in the coming days.
He added that the refinery will procure additional units beyond the initial 4,000 trucks if necessary to sustain affordable pricing nationwide.
He insisted that the refinery was established primarily for the benefit of Nigerians, adding that price reductions would continue regardless of complaints from oil importers over potential losses.
According to him, products supplied through MRS and other offtakers are straight-run fuels, unlike blended products imported from overseas markets.
“Nigerians now have a choice—to buy better quality fuel at a more affordable price or purchase blended PMS at a higher cost. Importers can continue to incur losses, so long as Nigerians benefit,” he said.
He noted that the refinery is driven more by legacy than profit, noting that the $20 billion investment could have been deployed elsewhere if financial returns were his sole objective.
Dangote further disclosed that the continued issuance of import permits by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has further weakened the midstream and downstream sectors.
He revealed that import licenses covering about 7.5 billion litres of PMS were reportedly issued for the first quarter of 2026, despite the availability of substantial domestic refining capacity, a development he said is harming local production and discouraging investment in domestic refining.
He described the downstream petroleum sector as being under severe strain, alleging that entrenched interests continue to profit from fuel imports at the expense of national development.
According to him, the leadership of the NMDPRA has colluded with international traders and oil importers to frustrate local refining through the persistent issuance of import licences for petroleum products.
Dangote also alleged that Engr. Farouk Ahmed, Authority Chief Executive, was living beyond his legitimate means.
He claimed that four of Farouk’s children attend secondary schools in Switzerland at costs running into several million dollars, an expenditure, Dangote said raises serious questions about conflicts of interest and the integrity of regulatory oversight in the downstream sector.
“I am not calling for his removal, but for a proper investigation,” Dangote said,
He added that the NMDPRA boss should be made to account for his actions and prove that he has not compromised his position to the detriment of Nigerians.
He described the situation as economic sabotage.
He further alleged that as much as $5 million was paid as tuition fees for the official’s children, questioning how many Nigerians could afford such costs.
He therefore called on the Code of Conduct Bureau or any appropriate government agency to investigate the matter, warning that he would publish evidence and pursue legal action if the claims are denied.
I sent my own children to secondary schools here in Nigeria. How many Nigerians can afford to pay five million dollars for secondary school tuition, not university education?
In his home state of Sokoto, many parents are struggling to pay as little as N10,000 in school fees,” Dangote said.
Dangote further accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of misrepresenting the refinery’s capacity by publishing offtake figures instead of actual production data.
He maintained that the refinery has sufficient capacity and refined products to meet local demand, but alleged that imports are deliberately encouraged to keep prices high, with efforts also being made to force the refinery to export products only for them to be re-imported into the country at higher prices.
“This refinery is for Nigerians first, and I am not giving up,” he said.
He disclosed that the refinery currently imports an average of 100 million barrels of crude oil annually from the United States, a volume expected to increase to 200 million barrels after expansion due to inadequate domestic crude supply.
According to him, the facility also sources crude from Ghana and other countries, while exporting jet fuel and gasoline to the United States.
Dangote further alleged that domestic refiners are compelled to purchase Nigerian crude at premiums of up to four dollars per barrel from the trading arms of international oil companies, a situation he said places local refiners at a significant competitive disadvantage.
