Dangote Raises Fuel Prices Nationwide

Dangote Refinery has increased the price of Premium Motor Spirit (PMS) by N100 per liter across Nigeria.

In a statement released Monday, the $20 billion refinery said its gantry price of petrol is now N799 per liter, while the retail price at outlets has risen to N839 per liter. Previously, the gantry and retail prices were N699 and N739 per liter, respectively, since December last year.

“Under the current alignment, the PMS gantry price is N799 per liter, while retail outlets are selling at N839 per liter,” the statement said.

David Bird, CEO of Dangote Petroleum Refinery, confirmed that the facility continues to supply roughly 50 million liters of PMS daily, with nationwide distribution and evacuation operating as normal.

The price increase comes amid operational adjustments at the refinery. DAILY POST reports that Dangote resorted to gasoline imports during the downtime of its Residual Fluid Catalytic Cracker (RFCC) to maintain supply, according to Kpler.

As of Monday evening, retail stations, including those of the Nigerian National Petroleum Company Limited (NNPC), were selling petrol between N805 and N830 per liter. The refinery’s adjustment is expected to influence fuel prices across Nigeria’s downstream sector.

In December, Aliko Dangote had pledged to maintain the retail fuel price at N739 per liter nationwide to compete with importers, stating at the time that outlets should not charge more than N740 per liter.