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Dangote to sell petrol N739 per litre from Tuesday
Aliko Dangote, Chairman of Dangote Petroleum Refinery, has disclosed that MRS and other filling stations purchasing Premium Motor Spirit (PMS) from his refinery will begin dispensing fuel at N739 per litre starting Tuesday in Lagos.
Dangote stated this on Sunday during a press briefing, recalling the earlier reduction of the ex-depot price from N828 to N699 per litre.
The latest reduction which has been widely acknowledged represents a N125 per cent reduction at a go.
The new pricing took effect on December 11, 2025, marking the 20th petrol price adjustment implemented by the refinery this year as Dangote continues to fine-tune domestic supply dynamics.
Speaking at the refinery yesterday, Dangote called on members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) to patronise the refinery, reaffirming that sales to marketers would remain at N699 per litre.
“We are going to start with MRS stations, most likely on Tuesday, in Lagos. We have also asked members of IPMAN to come. Anybody who can buy 10 trucks, come and buy at N699,” Dangote said.
He expressed confidence in his company’s determination to ease the burden of fuel prices during the Yuletide season.
“We are going to use whatever resources we have to make sure that we crash the price down. By the grace of God, within a week to 10 days, we will be able to deliver. We don’t want to see, at least for this December and January, petroleum products sold above N740 nationwide,” he added.
Dangote warned that his company would resist any attempts to sabotage efforts to stabilise fuel prices.
Dangote criticised the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for what he described as “reckless issuance of licenses.”
“The NMDPRA has issued reckless licenses. We have to complain to the government because they normally issue licenses in the middle of the month. Now, they are ready to issue about 7.5 billion litres for the first quarter of 2026. Despite that, we are still guaranteed to supply enough,” he said.
He revealed that his company purchases over 100 million barrels of crude oil annually from the United States, despite the high naira-to-crude premium.
“We buy from Ghana and some African countries, but the U.S. has been our major supplier. On average, we buy no less than 100 million barrels yearly from the U.S. When we double capacity, they will likely supply us over 200 million barrels per annum. The U.S. is a major beneficiary, and we also supply them with aviation fuel and gasoline,” he said.
Dangote said the refinery would soon list its shares on the exchange, allowing every Nigerian to own part of the business.
“Our main interest is to list at the exchange so that every living Nigerian can own part of the refinery. When we sell shares, we won’t put a cap. If Nigerians buy 55% and I’m left with 45%, so be it — this is about legacy,” he said.
He added that dividends for diaspora investors would be paid in dollars due to the refinery’s significant foreign sales.
“We’ll ensure dividends are paid in dollars since a major part of our sales are in foreign currency. We’ll be a major supplier of forex into the market,” he said.
Dangote revealed that the highest volume of crude the Nigerian National Petroleum Company Limited (NNPCL) supplies to his refinery is between 4.5 and 5 million barrels monthly.
“It’s between four and a half to five million barrels in total, out of 19,” he said.
Dangote noted that the President had approved the immediate implementation of a 15 percent import duty on refined petroleum products to protect domestic industries.
He said despite the suspension of the policy in November, his refinery still reduced the pump price by N49, demonstrating commitment to affordability.
“The 15 percent is just a warning to discourage imports. Even though the implementation was suspended, we still reduced the price by N49. That’s about N60 billion in a month — not a small amount,” he said.
Dangote expressed frustration over the actions of some fuel marketers, accusing them of undermining local refining efforts through continued importation.
“I pray and wish the marketers will lose more because I’m not printing money — I’m also losing. They want imports to continue, but that’s not right. This is a $20 billion investment; it’s too big to lose. It’s a game of cat and mouse — someone will give up, but it won’t be me,” he stated.
The Supreme Court of Nigeria will on Thursday, deliver judgments in two cases involving the leadership crises rocking the African Democratic Congress and the Peoples Democratic Party.
According to information on the official website of the court, the matters, listed under “Political Appeals”, have been added to the cause list for Thursday, April 30, 2026.
While judgment in the ADC matter, marked SC/CV/180/2026, has been fixed for 2 pm, there is no time yet for that if the PDP.
President Bola Tinubu has written the Senate, seeking the screening and subsequent confirmation of fifteen nominees to the National Human Rights Commission (NHRC).
The letter was read by the President of the Senate, Senator Godswill Akpabio.
The letter seeks the reconstitution of the commission’s board in line with statutory provisions with the list comprising nominees from diverse professional backgrounds, including the media and legal sectors.
Among the nominees are the President, Nigeria Guild of Editors and Editor, Vanguard Newspapers, Mr. Eze Anaba; and Dr. Salamatu Hussaina Suleiman, who has been proposed as chairman of the board.
The Executive Secretary of the Commission, Dr. Anthony Ojukwu (SAN) is to retain his position as the Chief Executive Officer.
Other nominees include Mrs Roseline Tasha, Ambassador Adam Yubak Baku, ACG Felix Lawrence, Mr. Edmund Chinonye, Mr. Chinonye Obiaku (SAN), Oluwakemi Asiwaju Okere-Odo, Professor Adedeji Ogunji, Kingsley Chidozie, Mohammed Adelodu, Maupe Ogun Yusuf, and Otunba Francis Meshioye as members.
Also nominated are Patience Patrick and Hawwa Ibrahim, listed as members.
The President said the nominations were made pursuant to Section 2(3) of the National Human Rights Commission (Establishment) Act, 2010, which empowers him to constitute the board subject to Senate confirmation.
He explained that the reconstitution of the board was necessary to enhance the commission’s institutional capacity and enable it to more effectively discharge its mandate to promote and protect human rights across the country.
If confirmed, the new board is expected to play a critical role in reinforcing the NHRC’s oversight functions, particularly at a time of heightened concerns over rights protection and accountability in Nigeria.
Following the presentation of the request, the Senate referred the nominations to its Committee on Judiciary, Human Rights and Legal Matters for screening and report within two weeks.
The Economic and Financial Crimes Commission, EFCC, has revealed that it investigated the founder of Streams of Joy International, Pastor Jerry Eze, for six months over suspected money laundering before clearing him.
Ola Olukoyede, chairman of the Commission, disclosed this on Wednesday while speaking at the Jerry Eze Foundation Business Grant Award Ceremony in Abuja.
According to him, the probe was triggered by intelligence reports and petitions after the commission observed large inflows of foreign currencies into the cleric’s domiciliary account.
“We work by intelligence, we work by petitions. At some point, I saw there was an account, a domiciliary account. Dollars, pounds were dropping in like raindrops, from Colombia, from America, from Sri Lanka, even from Togo.
“I said who is this man? Yes, I’ve been hearing about his name, I’ve seen his face a couple of times. I never bothered about what he was doing. I knew he was a pastor.
“So they said this one pastor of streams of joy, go and investigate him. So we went to the investigation. We combed the books,” Olukoyede stated.
The EFCC boss said he subsequently invited Eze for questioning after preliminary findings were compiled by investigators.
He added that upon meeting the cleric and reviewing the findings of the investigation, the commission found no wrongdoing.
“So he came to my office. He told me what happens and all of that, and how the money came, what he does, how he has been helping people, and all of that.
“I said, you know what, I didn’t call you here to explain to me. We have already done our work. I called you here to commend you,” he stated.
The remark drew applause from the audience, as Eze, who was present at the event, acknowledged the commendation.
He noted that the commission has a responsibility not only to investigate financial crimes but also to recognise individuals found to have acted with integrity.
The EFCC chairman, however, stated that the agency would continue to monitor financial activities where necessary, stressing that its preventive mandate remains critical in tackling corruption.
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