Data from the Major Energy Marketers Association of Nigeria shows imported petrol cost N728.88 per litre last week. On Monday night, Dangote Refinery increased its gantry petrol price from N699 to N799 per litre. This adjustment makes Dangote’s price about N70 higher than the imported PMS landing cost.
Consequently, MRS filling stations now sell petrol at N839 per litre across the country. Checks on Tuesday confirmed the retail increase following the 650,000 barrels-per-day Lekki refinery announcement. The refinery explained the realignment is modest since the festive period has ended. It stressed the adjustment ensures sustainable pricing to maintain long-term market stability.
During the festive season, Dangote absorbed high costs to support Nigerians amid increased household spending. The refinery reaffirmed its commitment to uninterrupted nationwide petrol supply and market stability. CEO David Bird noted the refinery supplies around 50 million litres of PMS daily.
He added that the refinery’s flexible design allows continuous production during planned maintenance. Dangote Petroleum Refinery shields the domestic market from import-related price volatility, maintaining energy security. Previously, imported petrol landing costs exceeded Dangote’s ex-depot price, challenging private importers’ competitiveness.
Aliko Dangote reduced petrol prices during December to ensure affordability during the Yuletide period. Imported petrol volumes dropped, while Dangote’s supply rose significantly during the festive season. The recent price realignment restores market pricing without implying a permanent increase. Stakeholders urge fair competition while acknowledging Dangote’s stabilising role in the downstream sector.
