Dangote Refinery has increased the ex-depot price of Premium Motor Spirit to ₦1,350 per litre, a ₦75 rise from the previous ₦1,275. The adjustment, confirmed on Wednesday by a senior official and pricing platform Petroleumprice.ng, follows a pattern of frequent price changes in recent weeks. The new gantry price has been activated across all loading channels, requiring marketers to update their pricing templates immediately. A senior official said, "The new pricing template has been activated across the board. All loading points have been updated, and marketers are already responding by adjusting their depot prices. This is not an isolated change; it reflects prevailing supply and cost pressures in the system."
This is the second ₦75 increase within seven days, coming just a week after the previous hike from ₦1,200 to ₦1,275. The rise coincides with a temporary halt in the issuance of pro forma invoices earlier in the week, which market players say constrained product availability. "The suspension of PFI created a short-term supply squeeze," the official added. "When you combine that with international crude price movements and logistics costs, it becomes inevitable that depot prices will adjust upward."
Despite the increases, a Dangote Group management official recently stated the refinery has been subsidising petrol and diesel sales to Nigeria. Price adjustments over the past month reflect shifts in crude sourcing costs, foreign exchange pressures, and domestic logistics. The refinery's growing dominance in local supply has intensified scrutiny over its pricing strategy. The latest hike is expected to push pump prices higher nationwide, affecting consumers already facing inflation and rising transport costs.
Dangote Refinery claims it is subsidising fuel even as it raises prices by ₦75 twice in one week, creating a contradiction between cost claims and pricing actions. The repeated hikes suggest marketers and consumers have no buffer against rapid price shifts driven by internal refinery decisions and external cost factors. For Nigerian motorists and transporters, this means pump prices will keep fluctuating without warning, deepening financial strain. A refinery meant to stabilise fuel supply is instead mirroring the volatility it was supposed to end.
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