Dangote Refinery Raises Petrol Price by N75 to N1,275/Litre Amid Global Oil Pressures

Nigeria’s largest privately owned refinery, the Dangote Petroleum Refinery, has increased the ex-depot price of Premium Motor Spirit (petrol) by ₦75, bringing the new rate to ₦1,275 per litre.

The latest adjustment represents an approximate 5 percent rise from the previous price of ₦1,200 per litre, according to industry sources familiar with the pricing template.

The refinery also raised the price of diesel to ₦1,950 per litre, further intensifying cost pressures across key sectors of the Nigerian economy, including transportation, logistics, and manufacturing.

Officials linked the price increase to prevailing global crude oil market conditions, including geopolitical tensions and rising operational costs. Analysts note that despite Nigeria’s growing domestic refining capacity, fuel pricing remains closely tied to international oil benchmarks and foreign exchange dynamics.

The adjustment is expected to have a ripple effect on pump prices nationwide, as fuel marketers are likely to pass on the increased costs to consumers. This could translate into higher transportation fares and an uptick in food and commodity prices, further impacting household spending.

The development underscores the continued volatility in Nigeria’s downstream petroleum sector, even as the Dangote refinery—Africa’s largest with a capacity of about 650,000 barrels per day—plays a central role in local fuel supply.

Market observers say further price adjustments may occur if global crude prices remain unstable, reinforcing concerns about sustained inflationary pressure in the months ahead.