Sh*ck At The Pumps: Dangote Refinery Hikes Petrol Price, Nigerians React

The Dangote Petroleum Refinery has raised the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦850 per litre, up from ₦820 — a 3.66% increase. This adjustment follows the refinery’s resumption of sales after a one-week suspension.

Operations restarted on Thursday at the 650,000-barrels-per-day facility located in the Lekki Free Trade Zone, Lagos, after a temporary halt that rattled the downstream market. Earlier, the refinery had instructed marketers to stop all payments for PMS loading until further notice.

Although no official statement has been issued, industry sources attribute the price hike to fluctuations in global crude oil prices, noting that Dangote imports roughly half of its crude feedstock from the United States.

While petrol prices at most private depots remain largely unchanged, diesel from the refinery is still selling at ₦990 per litre — lower than the average ₦1,030 charged elsewhere.

Despite its commissioning in 2023 to reduce fuel imports, recent data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority shows that between May and June 2025, 71.38% of Nigeria’s petrol still came from imports, with Dangote accounting for just 28.62%.

The refinery’s return to operations has temporarily eased supply fears, but market watchers remain cautious amid ongoing volatility in crude oil prices.