BREAKING: Dangote Refinery Raises Petrol Price across Nigeria

BREAKING: Dangote Refinery Raises Petrol Price across Nigeria

The Dangote Petroleum Refinery has again increased the price of petrol across Nigeria, pushing its gantry price of Premium Motor Spirit (PMS) to ₦1,275 per litre, up from ₦1,200 per litre.

The latest adjustment represents a ₦75 increase (about 5%), reversing a recent period of relative stability in fuel prices and reinforcing concerns about rising cost of living.

The price hike comes amid renewed volatility in the global oil market, with crude benchmarks climbing sharply. Brent crude hovered around $105 per barrel, while West Texas Intermediate (WTI) traded near $110 per barrel, driven by heightened geopolitical tensions.

A major trigger for the surge has been escalating uncertainty in the Middle East, following strong warnings from US President Donald Trump over a potential conflict involving Iran. The situation has raised fears of global supply disruptions, which typically push up crude prices and, by extension, refined fuel costs.

Industry analysts say the Dangote refinery’s pricing remains closely tied to international crude benchmarks, meaning local pump prices are still heavily influenced by global market dynamics despite increased domestic refining capacity.

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The development comes just weeks after the refinery reduced petrol prices on March 27, 2026, when global crude prices softened. However, the recent rebound in oil prices has quickly erased those gains, underscoring the volatility of the energy market.

Despite the increase, President of the Dangote Group, Aliko Dangote, moved to reassure Nigerians and the wider African market about product availability.

“What I can do is assure Nigerians and most of West Africa, Central Africa, and East Africa that we have the capacity to supply them,” Dangote said during a recent tour of the facility.

His assurance comes as the refinery continues to ramp up production and expand its footprint across Africa. The plant, with a capacity of 650,000 barrels per day, is increasingly becoming a key supplier of refined petroleum products across the continent.

However, analysts caution that while supply may improve, price stability remains uncertain. They note that persistent global tensions, fluctuating crude prices, and foreign exchange pressures could continue to drive frequent price adjustments.

The latest increase is expected to have a ripple effect across the Nigerian economy, with likely impacts on transport fares, food prices, and inflation, as businesses adjust to higher energy costs.

Market watchers also warn that unless crude prices ease or government intervention—such as pricing support or subsidies—is introduced, Nigerians may continue to face elevated petrol and diesel prices in the near term.

BREAKING: Dangote Refinery Raises Petrol Price across Nigeria