Dangote Refinery Lifts Petrol Gantry Price to ₦799/L Following Festive‑Season Relief

Dangote Petroleum Refinery has adjusted its Premium Motor Spirit (PMS) gantry price from ₦699 to ₦799 per litre, ending the temporary festive‑season support that held pump prices down through Christmas and New Year.

As a result, MRS filling stations — one of its largest off‑takers — have begun retailing petrol at ₦839 per litre.

In a statement released on Monday evening, the refinery said: “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 ₦799 per litre, while MRS retail outlets are selling at ₦839 per litre.”

Why the Price Has Been Adjusted

The refinery had deliberately reduced prices during the holiday season to cushion households at a time of heightened spending — the second year in a row it implemented such festive support. A similar intervention in 2024 included logistics subsidies.

Despite that move, many filling stations reportedly failed to pass the reduction on to consumers, limiting the intended relief. Dangote says the new ₦799/L benchmark reflects ongoing costs, logistics, and the need to keep domestic supply stable while maintaining operations that currently deliver around 50 million litres of petrol daily.

CEO David Bird reaffirmed the refinery’s commitment to shielding the Nigerian market from global price shocks, citing the plant’s ability to process multiple crude grades to guarantee consistent supply, even during maintenance cycles.

Impact on the Market and Consumers

The rise comes amid sustained pressure on the downstream sector:

• Petrol remains one of the largest household expenses.
• Retail prices surpassing ₦800/L follow months of fluctuations between ₦650–₦750 driven by crude prices, forex volatility, and the cost of imported volumes.
• Even with domestic production ramping up, Nigeria still requires 60–70 million litres daily, meaning full self‑sufficiency is yet to be achieved.

The adjustment is expected to influence pump prices at other filling stations, depending on their sourcing and operating margins.

Wider Context

Since production began in late 2023, the 650,000‑barrels‑per‑day Dangote Refinery has acted as a stabilising force in Nigeria’s fuel market, helping to reduce import dependency.
The realignment reflects attempts to balance affordability with operational sustainability at a time of high global energy costs and domestic economic strain.

Major oil marketers and the Petroleum Products Pricing Regulatory Agency (PPPRA) have yet to issue public statements, though market observers expect adjustments across the board.