Dangote Petroleum Refinery has cut its gantry price for Premium Motor Spirit (PMS) to N699 per litre, enabling retail sales at N740 per litre starting Tuesday at MRS stations in Lagos, prioritizing Nigerians over complaining importers.
Refinery owner Aliko Dangote dismissed losses faced by fuel importers holding 7.5 billion litres of Q1 2026 import licences, stating they can continue importing blended products at higher costs while Nigerians access superior straight-run local fuel affordably. He accused NMDPRA of economic sabotage by over-issuing import permits despite domestic capacity, misreporting production figures, and forcing refiners to buy Nigerian crude at $4 premiums from international traders.
Dangote demanded investigation into NMDPRA CEO Farouk Ahmed's actions and wealth, vowing not to relent on local refining benefits despite importing US crude and exporting to America, with plans to list the $20 billion facility on the Nigerian Exchange for public ownership.