Africa’s richest man and owner of the $20 billion Dangote Petroleum Refinery announced partner stations like MRS Oil will sell petrol at N739 per litre starting Tuesday, after cutting the gantry price to N699 on December 12—the 20th adjustment this year.
Bulk buyers load at N699, and Dangote predicts people will soon forget the old N970 prices, blaming high retail markups on low transport costs from the plant.
The move ramps up his price battle with importers in a ‘cat and mouse’ game, as Nigeria shifts from subsidies ended in 2023 toward local refining, though imports continue amid regulatory debates.
If it holds, lower pump prices around N800-N900 now could ease inflation and transport costs for everyday drivers.
SOURCE: bonanaija.com.ng