Dangote Petroleum Refinery has raised the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, from N699 per litre to N799 per litre.
The development was announced by the refinery in a statement issued on Monday evening.
Following the adjustment, MRS Oil Nigeria Plc filling stations supplied by the refinery will now sell petrol to motorists at N839 per litre, marking an end to the temporary price support introduced during the festive period.
The refinery said the adjustment reflects a return to what it described as sustainable pricing levels, while reiterating its commitment to market stability and uninterrupted nationwide supply of petrol.
What they are saying
The refinery explained that the latest price change follows the conclusion of the festive season, during which it deliberately absorbed higher costs to ease the burden on Nigerian households.
It said the intervention was designed to promote affordability and calm in the downstream petroleum market at a time of elevated consumer spending.
“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.”
“Despite the price reduction, many filling stations failed to reflect the new price at the pump, thereby denying Nigerians the benefits of the reduction.”
“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.”
The refinery said it remains focused on ensuring energy security, price stability, and long-term value for Nigerian consumers despite the recent adjustment.
Backstory
During the recent festive season, Dangote Petroleum Refinery implemented a temporary price support mechanism aimed at cushioning Nigerians against rising fuel costs.
- The initiative came at a time when household spending typically increases due to celebrations and travel, placing additional pressure on consumer budgets.
- According to the refinery, this was the second consecutive festive season in which it absorbed significant costs in the national interest.
- In 2024, the refinery said it provided logistics support to stabilise supply, while in 2025 it introduced a price reduction to promote affordability and reduce volatility in the PMS market.
The company, however, expressed concern that the benefits of the price reduction were not fully passed on to consumers, as several filling stations reportedly failed to adjust their pump prices accordingly.
This, it said, limited the intended impact of the intervention and reinforced the need to return to a more sustainable pricing framework after the festive period.
More Insights
Dangote Petroleum Refinery disclosed that it continues to supply the domestic market with approximately 50 million litres of PMS daily.
It noted that evacuation and nationwide distribution are operating normally, supporting consistent availability of petrol across the country.
- The refinery’s Chief Executive Officer, David Bird, said domestic supply remains stable despite ongoing operational demands.
- He explained that the refinery’s design allows it to process a wide range of crude oil and intermediate feedstocks.
- This flexibility enables continued production and supply of PMS even during planned maintenance activities.
According to Bird, these operational capabilities ensure that local petrol supply remains uninterrupted, reducing Nigeria’s exposure to external supply shocks and import-related price volatility.
What you should know
Dangote Petroleum Refinery is Africa’s largest single-train refinery and plays a central role in Nigeria’s downstream petroleum sector.
As a domestic producer, it has positioned itself as a key supplier of refined petroleum products, including PMS, diesel, and aviation fuel, with the aim of reducing the country’s dependence on imports.
- The refinery’s pricing decisions have a direct impact on pump prices at partner filling stations, particularly MRS outlets.
- Its supply of about 50 million litres of PMS daily makes it one of the most significant contributors to domestic fuel availability.
- The company has consistently stated that its long-term objective is to promote energy security, market stability, and affordability for Nigerians.
