Aliko Dangote, President of the Dangote Group, announced that Premium Motor Spirit (PMS), commonly known as petrol, will sell for no more than ₦740 per litre in Lagos State starting Tuesday, December 16, 2025. He made the announcement during a press conference at the Dangote Petroleum Refinery in Lagos on Sunday.
Dangote explained that the petrol price reduction follows a cut in the refinery’s gantry price to ₦699 per litre. He said that MRS filling stations would be the first to implement the new price and emphasized that Nigerians would ultimately benefit from local refining, even as fuel importers face losses.
He added that the company is working around the clock to ensure the recent gantry price reductions are fully reflected at the retail level. Dangote also revealed that the refinery has lowered its minimum purchase requirement from two million litres to 500,000 litres to allow more marketers to participate.
Dangote stated, “We will enforce the low price and ensure it is applied. So, if you come to the refinery today, you will get PMS at ₦699 per litre.”
“Nigerians have the option to buy higher-quality fuel at a more affordable price or purchase blended PMS at a higher cost. Importers may continue to incur losses, as long as the people of Nigeria benefit,” Dangote added.
