Dangote Refinery Raises Petrol Price Again To N1,350

The Dangote Petroleum Refinery has increased its gantry price for Premium Motor Spirit, commonly known as petrol, by N85 per litre, adding fresh pressure to Nigeria’s already volatile fuel market.

The refinery raised the price from N1,265 to N1,350 per litre, with the new rate taking effect from Saturday, September 12, 2026. The latest adjustment represents a 6.7 per cent increase in the refinery’s selling price.

The increase is the latest in a series of petrol price adjustments by the refinery in recent weeks. The product had moved from N1,165 per litre to N1,185 on August 21, before rising to N1,200 on August 26 and N1,265 on August 29.

The latest N85 increase means the refinery’s gantry price has risen by N185 per litre since August 21, adding to concerns over the impact of rising fuel costs on transportation, businesses and household expenses.

The development also comes at a time when global energy markets are facing significant disruptions, with refinery capacity and fuel supply affected by geopolitical tensions and shortages in some major producing regions.

Despite the higher petrol price, the Dangote refinery has continued to increase its crude oil intake as it ramps up operations. The facility has secured at least 16 million barrels of Nigerian crude for delivery in October, equivalent to about 520,000 barrels per day.

The refinery currently has a processing capacity of 700,000 barrels per day and is preparing for a major expansion that will eventually take its capacity to 1.4 million barrels per day. The planned expansion is expected to cost about $14.3 billion and is targeted for completion by 2029.

The price adjustment also comes just days before the planned commencement of the Dangote Refinery’s much-anticipated initial public offering. The IPO is expected to run from September 14 to October 13, with the company targeting about N2.15 trillion from investors.

With the new gantry price now in effect, marketers and consumers will be watching closely to see how the increase translates into pump prices across different parts of the country.

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