Dangote Refinery announced a new ex‑depot price of ₦1,350 per litre for Premium Motor Spirit (petrol), up ₦75 from the previous rate of ₦1,275. The adjustment, confirmed by market sources cited by Petroleumprice.ng, follows the suspension of the Proforma Invoice on Tuesday and signals a fresh upward move in Nigeria’s downstream fuel market.
The increase is expected to be reflected at the pump within days, particularly in major consumption centres, as marketers recalibrate their depot and retail pricing to accommodate higher landing and replacement costs. Industry operators indicated that the new pricing template has already been applied across loading channels, prompting a swift response from distributors.
The rise comes amid continued pressure in the global oil market and ongoing supply‑side adjustments in the domestic distribution chain. International crude prices have been volatile, with West Texas Intermediate falling around 4 % on Tuesday and briefly slipping below $100 per barrel on Wednesday as optimism grew over a potential resolution to the conflict in Iran and the reopening of the Strait of Hormuz.
This is the second ₦75 increase recorded within a seven‑day period. Less than a week earlier, Dangote Refinery lifted its ex‑depot price from ₦1,200 to ₦1,275 per litre. Over the past month, the refinery has revised petrol prices multiple times, reflecting fluctuating crude sourcing costs, foreign‑exchange pressures, and shifts in domestic distribution dynamics.
The rapid succession of price changes highlights the growing influence of Dangote Refinery on Nigeria’s fuel market. As the country’s largest private refiner, its pricing decisions have a direct impact on retail fuel costs and, by extension, on transportation expenses and consumer price indices.
Stakeholders, including fuel marketers and end‑users, are closely monitoring the situation. Further adjustments may be necessary if global oil prices continue to move or if exchange rate volatility persists. The latest hike underscores the sensitivity of Nigeria’s downstream sector to external market forces and the importance of timely price communication to avoid supply disruptions.
