Dangote Refinery has announced a nationwide increase of ₦100 per litre in the price of Premium Motor Spirit (PMS), commonly known as petrol.
In a statement issued on Monday, the refinery disclosed that the gantry price of petrol has risen to ₦799 per litre, while the retail pump price now stands at ₦839 per litre. This represents an increase from the previous prices of ₦699 per litre at the gantry and ₦739 per litre at retail outlets, which had been in effect since December 2024.
“Under the current alignment, the PMS gantry price is ₦799 per litre, while MRS retail outlets are selling at ₦839 per litre,” the company stated.
The price adjustment comes amid supply challenges, as Dangote Refinery recently resorted to importing gasoline to support local supply following downtime at its Residual Fluid Catalytic Cracker (RFCC) unit, according to market intelligence firm Kpler.
As of Monday night, petrol prices at filling stations nationwide—including outlets operated by the Nigerian National Petroleum Company Limited (NNPCL)—were reported to range between ₦805 and ₦830 per litre.
Industry analysts say the latest price increase by Dangote Refinery is likely to trigger further adjustments across the downstream petroleum sector, as marketers align their prices with prevailing supply costs.
In December 2024, the President of Dangote Refinery, Aliko Dangote, had pledged to maintain a retail price of ₦739 per litre nationwide in a bid to edge out fuel importers.
“We don’t want people to sell petrol for more than ₦740 nationwide,” Dangote had said at the time.
