In a significant move to ease the burden of fuel costs on Nigerians, Dangote Refinery has partnered with MRS Oil and Gas to sell petrol at ₦935 per liter across the country.
This price adjustment comes after the ex-depot price of petrol was reduced from ₦970 to ₦899.50 per liter. The announcement was made on Saturday by Mr. Anthony Echiejina, Head of Media Communications at Dangote Refinery.
According to the statement, the new pricing has already been implemented in Lagos and will be expanded nationwide starting Monday. This follows an earlier reduction on Nov. 24, when the off-depot price dropped from ₦990 to ₦970 per liter.
Mr. Aliko Dangote, President of Dangote Industries Ltd., praised President Bola Tinubu’s naira-for-crude swap initiative for its positive impact on the economy, particularly in stabilizing fuel prices.
“The naira-for-crude swap deal has helped reduce petroleum product prices significantly,” Dangote noted. “To ensure that Nigerians benefit from this development, we have partnered with MRS to sell petrol at ₦935 per liter through its retail outlets nationwide.”
He called on other oil marketers, including NNPC Retail, to join the initiative to ensure more Nigerians have access to affordable and high-quality petrol.
“Our commitment at Dangote Refinery is to provide Nigerians with petroleum products that are not only good for their vehicles but also cost-effective and environmentally friendly,” he added.
The Federal Executive Council, under President Tinubu’s leadership, had in September approved the sale of crude oil to local refineries in naira, a policy that took effect on Oct. 1. This strategy has eased pressure on foreign exchange demand and contributed to stabilizing the naira.
This collaboration between Dangote Refinery and MRS Oil and Gas marks another milestone in efforts to make petroleum products more accessible and affordable for Nigerians.
