Dangote Refinery Pegs PMS at ₦739/Litre Nationwide, Warns Against Artificial Scarcity

Dangote Refinery Pegs PMS at ₦739/Litre Nationwide, Warns Against Artificial Scarcity

Dangote Petroleum Refinery has announced the commencement of nationwide sales of Premium Motor Spirit (PMS) at a pump price of ₦739 per litre across all MRS Oil Nigeria Plc filling stations, warning marketers against profiteering and artificial scarcity.

The refinery said the pricing, which applies to over 2,000 MRS outlets nationwide, is aimed at easing pressure on consumers, stabilising the downstream petroleum market, and supporting Nigeria’s economic recovery.

In a statement, Dangote Refinery commended MRS and other marketers that have complied with the new pricing regime, describing their action as patriotic and in line with national interest.

“We commend MRS and other marketers who have reflected the reduced price at the pump. We urge others to follow suit as a contribution to Nigeria’s economic recovery,” the refinery stated.

The announcement comes amid the festive season, a period traditionally marked by fuel scarcity and sharp price increases. Dangote Refinery said its intervention—backed by a guaranteed daily supply of 50 million litres of PMS—has altered market dynamics by ensuring price stability and product availability during the holidays.

According to the refinery, large-scale local refining is helping to reduce Nigeria’s exposure to volatile global oil markets, conserve foreign exchange, stabilise the naira, and strengthen national energy security. It added that the sustained supply and moderated pricing are already providing relief to households, transport operators, and businesses nationwide.

Dangote Refinery also issued a strong warning against attempts by some operators to undermine the price reduction through artificial scarcity or supply manipulation.

“Any attempt to create artificial scarcity or frustrate recent price reductions is unacceptable and unpatriotic. We urge regulatory authorities to remain vigilant and take decisive action against such practices, especially during this critical festive period,” the statement said.

Consumers were advised to avoid purchasing fuel at inflated prices and to patronise stations offering the approved rate.

“Nigerians should not buy PMS at excessively high prices when locally refined fuel is available at ₦739 per litre from over 2,000 MRS stations nationwide. Any MRS station selling above this price should be reported via 0800 123 5264,” the refinery noted.

The company further called on other petrol station operators to patronise its products to enable wider distribution of the price reduction across the country.

Reaffirming its long-term commitment, Dangote Petroleum Refinery said its operations are driven by national interest, steady supply, and price moderation rather than short-term market pressures.

“Our objective is to ensure consistent availability of high-quality petroleum products at affordable prices, while supporting economic stability and reducing Nigeria’s dependence on fuel imports,” the refinery concluded.