The Dangote Group has announced that petrol from its refinery will be sold at N740 per litre, but the company has also accused regulatory obstacles of hampering efficient operations and wider distribution.
In a statement released on Monday, Dangote officials said the pricing strategy was aimed at easing the fuel burden on Nigerian consumers amid global market volatility and high domestic costs. The company argued that setting petrol at N740 per litre could offer a more stable and affordable alternative to the fluctuating prices being seen at many retail outlets across the country.
However, the conglomerate also voiced concerns about what it described as “regulatory sabotage,” claiming that delays in approvals, unclear policies and administrative bottlenecks have slowed the refinery’s ability to distribute products widely and optimise output. Dangote’s management emphasised that these challenges threaten the full realisation of the refinery’s potential to significantly lower fuel import dependency.
“We are committed to providing reliable and fairly priced petroleum products,” the statement said, “but the regulatory environment must be strengthened so that our facilities can operate seamlessly for the benefit of all stakeholders.”
Economic analysts say the N740 price tag could reshape local pricing dynamics if widely adopted, especially given the refinery’s large processing capacity and integrated supply chain. They also note that a smoother regulatory framework could encourage other investors and help stabilise fuel prices in the long term.
While the federal government has not officially confirmed the N740 pricing plan, officials have acknowledged ongoing dialogue with Dangote Group to address operational challenges and align expectations ahead of broader market implementation.
