Dangote Petroleum Refinery on Tuesday announced an increased in the ex-gantry price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦799 per litre, up from ₦699 per litre.
The development represent a ₦100 price increase.
According to a statement by the company, under the revised pricing structure, retail outlets will now sell petrol at ₦839 per litre.
This adjustment comes despite earlier price reductions, but many Nigerians fear it signals the refinery’s growing dominance, potentially evolving into a monopoly that could dictate fuel prices without sufficient competition, echoing concerns seen in Dangote’s cement operations where similar market control led to price manipulations and reduced consumer options.
Despite the fear, the statement further reaffirmed Dangote Petroleum Refinery & Petrochemicals commitment to market stability and uninterrupted nationwide supply of premium motor spirit (PMS).
According to the company, during the recent festive period, it implemented a deliberate and temporary price support intervention to cushion Nigerians at a time of heightened household spending.
This marked the second consecutive festive season in which the refinery absorbed significant costs in the national interest, including logistics support in 2024 and a price reduction in 2025 to promote affordability and market calm.
Despite the price reduction, many filling stations, according to the statement, failed to reflect the new price at the pump, thereby denying Nigerians the benefits of the reduction.
“With the festive period concluded, PMS prices have been modestly realigned to sustainable levels to support long-term market stability and affordability. Under the current alignment, the PMS gantry price is N799 per litre, while MRS retail outlets are selling at N839 per litre”, the statement said.
The Chief Executive Officer of the Refinery, David Bird, stated that the refinery continues to supply the domestic market with approximately 50 million litres of PMS daily, with nationwide evacuation and distribution operating normally.
He noted that the refinery’s design flexibility allows it to process a wide range of crude and intermediate feedstocks, enabling continued PMS supply during planned maintenance activities.
According to him, this capability ensures that domestic supply remains stable and uninterrupted.
As a domestic producer, Dangote Petroleum Refinery continues to shield the Nigerian market from import-related volatility and external supply disruptions, while remaining a stabilising force in the downstream petroleum sector.
Dangote Petroleum Refinery remains focused on delivering energy security, price stability and long-term value for Nigerians.
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