Nigeria Petrol Price May Hit N1400 Per Litre Without Dangote Refinery

Dangote Petroleum Refinery Warns of Potential Fuel Price Hike to N1,400 Per Litre

Dangote Petroleum Refinery has cautioned that petrol prices could surge to as high as N1,400 per litre if Nigeria relies solely on fuel imports. The refinery emphasized that large-scale domestic refining has become a critical factor in stabilizing the downstream petroleum market. This warning was issued while dismissing reports of a shutdown for maintenance, which the refinery described as false and misleading.

According to the refinery, the absence of its operations would allow fuel importers to operate without restraint, potentially leading to a significant increase in petrol prices. The refinery’s statement highlighted that its operations have served as a stabilizing force in the market, preventing such drastic price hikes. The alleged shutdown report was attributed to fuel importers whose commercial interests are threatened by domestic refining, aiming to exploit Nigerians and justify recent price increases.

The refinery confirmed that production remains ongoing, stable, and uninterrupted, with the capacity to supply between 40 million and 50 million litres of Premium Motor Spirit daily. On January 4, the refinery produced 50 million litres of PMS and evacuated 48 million litres through its gantry, with current stock levels sufficient to cover over 20 days of national consumption.

The refinery also clarified that routine maintenance on specific units does not affect overall output due to the integrated design of its facilities. Other units, including the Naphtha Hydrotreater, CCR Reformer, and Hydrocracker, remain fully operational, producing key products for the domestic market.

Since mid-December, the refinery has maintained a steady PMS supply to the Nigerian market, with daily loading volumes verifiable by the regulator. The refinery reaffirmed its ex-gantry price of N699 per litre, available to all marketers and bulk consumers without discrimination. It urged filling station operators and large-scale users to patronize locally refined products, which would help moderate prices and conserve foreign exchange.

The Dangote refinery reiterated its commitment to prioritizing energy security and steady supply, advising the public to ignore false reports. By sourcing PMS locally, marketers can pass on price relief to consumers, enhance market stability, and support Nigeria’s economic recovery and energy security objectives. The refinery will continue to act in the national interest, supplying high-quality, locally refined petroleum products while supporting Nigeria’s economic stability, energy independence, and industrial growth.