- Dangote Refinery raises petrol price to ₦880 per litre Friday.
- Marketers predict retail prices will soon exceed ₦900 in many areas.
- Labour warns Nigerians are denied fuel cost relief despite cheaper crude.
The Dangote Petroleum Refinery has increased its ex-depot price for Premium Motor Spirit (PMS) from ₦825 to ₦880 per litre, a ₦55 jump that has raised concerns across Nigeria’s fuel distribution chain. This was confirmed through a Pro Forma Invoice and updates on petroleumprice.ng.
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EKO HOT BLOG reports that despite a global dip in crude oil prices—Brent at $76.47 and WTI at $74.93—the refinery attributes the increase to rising operational costs and naira volatility. Industry observers warn the new rate could push pump prices beyond ₦900 per litre, especially in locations far from fuel depots.
Aliko Dangote, speaking at a meeting with the One-Stop Shop Technical Committee, said his 650,000-barrel-per-day refinery has had to depend increasingly on imported crude due to persistent shortages from local sources. The refinery has already received 3.65 million barrels out of 17.65 million scheduled for import between April and July 2025. These deliveries fall under the federal government’s naira-for-crude oil exchange initiative.
Meanwhile, labour leaders have criticised fuel marketers for failing to reflect global price drops in local pump prices. PENGASSAN President Festus Osifo stated that with crude at around $60 per barrel, petrol should retail between ₦700 and ₦750, urging marketers to stop exploiting consumers.
As depot operators and distributors begin to adjust their prices to reflect the new ex-depot rate, sources say some marketers had withheld new pricing since Tuesday, taking advantage of the uncertainty to increase prices unofficially.
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