Petrol prices at Nigerian filling stations rose sharply on Thursday following a recent increase announced by Dangote Refinery. The Media Talk Africa reports that major outlets such as MRS, BOVAS and several others adjusted their pump prices to N1,370‑N1,365 per litre, up from N1,292‑N1,295 per litre in Abuja. The hike represents an increase of roughly N75‑N78 per litre for retail marketers.
Dangote Refinery, Nigeria’s largest private refinery, lifted its gantry price on Wednesday by N75 per litre, moving the rate from N1,200 to N1,275. The refinery attributed the adjustment to a surge in crude‑oil costs, which climbed above $115 a barrel after the United Arab Emirates withdrew from the Organization of the Petroleum Exporting Countries (OPEC). The rise in crude prices has heightened Nigeria’s exposure to global oil‑price volatility, a situation compounded by the ongoing Middle‑East conflict.
Since February 2026, the cost of fuel in Nigeria has surged from around N800 to close to N1,400 per litre, reflecting the combined impact of higher import costs, currency fluctuations and adjustments by domestic producers. The recent price changes at the retail level follow the refinery’s decision and indicate that distributors are passing on the higher input costs to consumers.
The price hikes are likely to affect transportation costs, household budgets and inflationary pressures across the country. Stakeholders, including the Federal Ministry of Petroleum Resources, are expected to monitor the market closely and may consider policy measures to mitigate the impact on vulnerable consumers.
The situation underscores Nigeria’s dependence on imported crude and the sensitivity of its downstream sector to international oil‑price dynamics. As global markets remain unsettled, further adjustments to fuel prices cannot be ruled out.
