Aliko Dangote, President of the Dangote Group, has announced a reduction in petrol pump prices to ₦739 per litrenationwide, effective Tuesday, starting with MRS filling stations in Lagos.

Speaking on Sunday at the Lekki Refinery, Dangote said the refinery had already slashed its gantry price from ₦828 to ₦699 per litre and vowed to ensure the lower pump price is enforced.

“Starting from Tuesday, MRS will start selling petrol at ₦739 per litre. Definitely, we will enforce that low price,” he said, adding that marketers can buy directly from the refinery at ₦699 per litre.

Dangote accused some marketers of deliberately keeping prices high to undermine government efforts, insisting that ₦970 per litre “is not the price” and warning that such practices would be resisted.

He said nationwide distribution would be completed within 10 days and stressed that petrol should not sell above ₦740 during December and January. Dangote also questioned pump prices of up to ₦900, noting that transportation from the refinery costs no more than ₦15 per litre.