Echotitbits – Nigeria News

Tag: N739 per litre

  • Dangote Refinery Urges Nigerians to Reject Petrol Prices Above ₦739/Litre

    Dangote Refinery Urges Nigerians to Reject Petrol Prices Above ₦739/Litre

    Photo Credit: The Punch
    2025-12-23 09:00:00

    In a consumer advisory cited by The Punch, Dangote Petroleum Refinery is urging Nigerians to stop buying petrol above ₦739 per litre, arguing that locally refined PMS should reach end-users at a lower price through its retail channels.

    The refinery says the goal is to prevent “middlemen pricing” from swallowing announced reductions, especially in high-demand corridors where price spikes often persist even after depot adjustments.

    It also introduced a reporting mechanism aimed at naming and shaming stations that sell above the advised ceiling, presenting the effort as consumer protection and market discipline.

    If the call gains traction, it could intensify downstream competition—pushing marketers to either match the price band or clearly justify premiums linked to logistics and location.

    Validation: Vanguard quoted the refinery saying, “We encourage Nigerians to avoid buying PMS… at ₦739 per litre… Report any MRS station selling above ₦739.” Legit.ng similarly quoted: “We encourage Nigerians to avoid buying PMS at inflated prices when locally refined fuel is available at N739 per litre.”

    Echotitbits take: This is a stress test of Nigeria’s retail transparency. Watch whether enforcement is consumer-led (hotlines + publicity) or regulator-led (monitoring + penalties), and whether rural/remote pricing remains a loophole.

    Source: The Punch — December 23, 2025 (https://punchng.com/stop-buying-petrol-above-n739-litre-dangote-tells-nigerians/)
    The Punch 2025-12-23

  • MRS stations begin ₦739 petrol sales in Lagos as marketers push back

    MRS stations begin ₦739 petrol sales in Lagos as marketers push back

    Photo Credit: Punch
    2025-12-17

    As pump prices remain a major political and household issue, MRS filling stations in Lagos have begun selling petrol at ₦739 per litre, triggering long queues and renewed debate about how quickly price cuts reach consumers.

    The development follows Dangote Refinery’s gantry price reduction and an effort to push retail prices lower through selected partners. However, marketers’ groups — including PETROAN — have criticised aspects of the rollout and the market disruption it could cause.

    For consumers, the immediate story is relief at the pump (where available) and confusion elsewhere as competing stations adjust prices or pause sales to manage supply and crowd control.

    For the industry, the key question is whether the ₦739 benchmark becomes nationwide — or remains a limited, Lagos‑first price in the face of logistics, inventory and competitive pressures.

    Vanguard: “Starting from Tuesday, MRS will start selling petrol at ₦739 per litre. We will enforce that low price…” Dangote said.

    P.M. News: “From Tuesday, MRS will begin selling petrol at ₦739 per litre. We will ensure that price is enforced and implemented,” Dangote said.

    Analysis/Echotitbits take: If the price cut holds and spreads, it will reset expectations across the downstream market. Watch for wider station participation, any regulatory guidance on pricing/competition, and whether supply disruptions emerge from sudden demand spikes.

    Source: Punch — December 17, 2025 — https://punchng.com/mrs-begins-n739-litre-petrol-sales-petroan-kicks/