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Nigeria

Dangote Refinery Reduces Petrol Price to N1,250/Litre

Dangote Petroleum Refinery has reduced the gantry price of petrol by N25 to N1,250 per litre from N1,275 per litre, representing a two per cent decrease. The 650,000-barrels-per-day refinery also adjusted the price of diesel, which was reduced to N1,700 per litre. The price cuts come as traders across Nigeria's major markets have been closely monitoring the refinery's pricing decisions, which influence fuel prices nationwide. Petrol at the Dangote Refinery gantry had previously been sold at N1,275 per litre before the latest reduction. The move is expected to ease pressure on motorists and fuel marketers, who have been grappling with fluctuating petroleum product prices in recent months. The reduction marks the latest development in Nigeria's downstream petroleum sector since the removal of the fuel subsidy and the commencement of large-scale refining operations at the Dangote Refinery, Africa's largest single-train refinery. […]

Abdulmumini Auwal SA May 30, 2026

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Nigeria

Dangote Faces Price War as NNPC Backs Fuel Imports

Aliko Dangote, CEO of Dangote Refinery, has clarified that the refinery sold petrol to the Nigerian National Petroleum Company (NNPC) at a price lower than imported fuel, even as the downstream sector faces an intensifying price war. Dangote accused the NNPC and other outfits of sabotaging the $20bn refinery investment, particularly by denying it crude supplies and continuing fuel imports. He stated: “We sold to NNPC at a lower price than imported petrol.” The price war has escalated as NNPC has moved to match Dangote’s reduced petrol price, with NNPC retail outlets now selling at ₦860 per litre after Dangote cut its ex-depot price from ₦890 to ₦825 per litre. This marks the refinery’s second price reduction in the new year and third in two months. Industry analysis shows fuel importers are being squeezed, with average 30-day landing costs hitting […]

Abdulmumini Auwal SA May 26, 2026

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Nigeria

Nigerians Ration Power, Queue For Fuel As Petrol Hits N1,500

Nigerians are facing a fresh wave of hardship as petrol prices climb to around N1,500 per litre in many parts of the country. The spike has come at a time of poor electricity supply, forcing households and businesses to ration power and battle long queues at filling stations. Over the past three weeks, the pump price of petrol has risen by more than N500 in some locations. In major cities, motorists report paying between N1,300 and N1,500 per litre, with some independent marketers selling even higher. The higher prices are linked to rising global crude oil costs, pressure on the naira, and Nigeria’s continued dependence on imported refined products. Labour unions, economists, and business groups warn that the situation is fuelling inflation, closing businesses, and worsening poverty. Many residents now limit generator use to a few hours at night or […]

Abdulmumini Auwal SA March 29, 2026

Nigeria

FG weighs options as Iran war pushes petrol above N1,000

The Federal Government is assessing its economic and diplomatic options as the war involving Iran, the United States and Israel begins to hit Nigerians through higher fuel prices and fresh pressure on the economy. Officials are closely tracking developments in the Middle East, where attacks on oil facilities, shipping disruptions and tensions around strategic waterways have driven up global crude prices. The conflict has already pushed Brent crude well above Nigeria’s 2026 budget benchmark, raising both risks and opportunities for Africa’s largest oil producer. On the domestic front, petrol prices have crossed or neared N1,000 per litre in many locations, with queues reappearing at filling stations across parts of the country. Marketers and analysts link the spike to higher international crude and freight costs, as well as supply constraints and the impact of the conflict on global refinery output and […]

Abdulmumini Auwal SA March 8, 2026

Nigeria

Dangote Refinery absorbs 20% of crude cost surge to stabilise fuel prices

Dangote Petroleum Refinery says it is currently absorbing about 20 percent of the recent crude oil cost escalation in order to reduce the impact of rising global prices on Nigerian fuel consumers. The company explained that the conflict in the Middle East and disruptions to global refining capacity have driven Brent crude prices up by roughly 26 percent, while Nigerian crude now trades at a premium of 3 to 6 dollars above the benchmark, with freight adding about 3.50 dollars per barrel. In response, the refinery implemented a 100 naira per litre increase in its ex depot price of petrol, representing about a 12 percent adjustment, but stressed that this is lower than the full rise in crude and logistics costs because it has chosen to absorb part of the escalation. Dangote Refinery said it receives around five cargoes of […]

Abdulmumini Auwal SA March 6, 2026

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Nigeria

Petrol price may rise again as crude oil hits new high

Nigerians may face another round of petrol price increases as crude oil prices continue to climb on the international market. Nigeria’s Bonny Light crude has risen to 70.30 dollars per barrel from 64 dollars last week, about a 10 per cent increase and the highest level so far this year. Brent crude now trades at 70.15 dollars per barrel, up from 66 dollars, while Murban crude has moved to 68.01 dollars from 65.20 dollars. Earlier in the week, filling stations raised petrol pump prices to an average of 850 naira per litre from 750 naira, citing the rise in crude prices. The Dangote Refinery and oil marketers argued that crude oil is the main input cost and that higher crude prices inevitably push up fuel prices. However, while crude prices went up by about 6.2 per cent, the local petrol […]

Abdulmumini Auwal SA January 30, 2026

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new africa

Independent marketers may sell Dangote petrol below N739

Some independent petroleum marketers partnering with Dangote Refinery may soon start selling petrol below N739 per litre as direct product deliveries begin.​The refinery has started virtual training for staff of its affiliate retail outlets and will follow up with free direct delivery of Premium Motor Spirit to their stations.​ Companies in the partnership include MRS, Ardova Petroleum, Garima, Heyden and Optimal, some of which had yet to sell at Dangote’s rate because they were awaiting direct supplies.​The Independent Petroleum Marketers Association of Nigeria National President, Abubakar Maigandi, said the margin between the N699 per litre gantry price and current pump prices makes reductions possible.​ He explained that independent marketers who receive free delivery from Dangote could sell for less than N739 per litre while still making profit in a competitive market.​He noted that the more than N25 per litre margin […]

Abdulmumini Auwal SA January 7, 2026

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Nigeria

Dangote launches hotline to report MRS stations overcharging for petrol

Dangote Petroleum Refinery has introduced a nationwide hotline for Nigerians to report any MRS Oil Nigeria Plc filling station selling petrol above the approved pump price of N739 per litre. The refinery said the move is part of efforts to protect consumers, promote transparency and ensure its latest price cut reaches end users.​ In a statement signed by company official Esan Sunday, Dangote announced that the toll free number 0800 123 5264 is now active across the country. Consumers can call the line to lodge complaints about any MRS outlet found charging more than N739 for Premium Motor Spirit.​ The hotline was launched after reports that some MRS stations continued to sell petrol above the approved price despite Dangote’s reduction of the gantry rate to N699 per litre and the recommended pump price to N739. Dangote said it has already […]

Abdulmumini Auwal SA December 23, 2025

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Nigeria

Petrol prices stay high despite Dangote slash

Many filling stations across Nigeria have yet to reduce their pump prices despite Dangote Refinery’s cut in ex depot price, which should see petrol sell at about N739 or N740 per litre. Checks by reporters showed that several outlets still sell far above this level, with prices in some places close to N900 per litre.​ In Lagos and its outskirts, many MRS filling stations were found selling at around N850 per litre, about N110 higher than the price Dangote Group’s president, Aliko Dangote, said the company’s retail outlets would charge. At Alagbole on the Lagos Ogun border, petrol sold for N850, while MRS stations on Ekoro Road and in Abule Egba sold between N825 and N870 per litre.​ Other marketers in the area also maintained higher prices, with Bovas in Ojodu selling at N820 per litre and an NNPC station […]

Abdulmumini Auwal SA December 21, 2025

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Nigeria

Dangote refinery price cut triggers brutal petrol war, heavy losses for importers and marketers

Nigeria’s downstream petroleum sector is in the middle of what operators describe as an intense price war following the decision by the Dangote Petroleum Refinery to sharply reduce its gantry price for Premium Motor Spirit from N828 to N699 per litre. The move has forced fuel importers, depot owners and retail marketers to cut prices aggressively, even as the refinery admits it is also losing money under the new price regime.​ Estimates based on consumption and supply data suggest that petrol importers could lose about N102.48bn every month if they match Dangote’s prices. With the refinery now selling N129 per litre cheaper than the prevailing import landing cost, analysts say depot owners who offload cargo at Dangote-level prices would be taking a loss of about N129 on every litre sold, amounting to roughly N3.41bn daily. Dangote Refinery itself is projected […]

Abdulmumini Auwal SA December 16, 2025

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