The Dangote Petroleum Refinery has increased the ex-depot price of Premium Motor Spirit (petrol) by ₦75, raising it from ₦1,275 to about ₦1,350 per litre.
The adjustment follows a previous price review in April 2026, when the refinery adjusted its rate to ₦1,275 per litre in response to shifts in global crude oil prices and market dynamics.
The latest increase comes as fuel prices across Nigeria continue to climb, with several filling stations already dispensing petrol at nearly ₦1,400 per litre in some locations.
Industry factors such as rising global oil prices, foreign exchange volatility, and ongoing supply constraints in the deregulated downstream sector have been identified as key drivers of the sustained price increases.
The new pricing was confirmed on Wednesday by a senior official associated with Dangote Petroleum Refinery and the pricing platform Petroleumprice.ng.
Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has reiterated that the Federal Government will not reintroduce fuel subsidy, describing the policy as economically distortive.
Speaking in Paris during a meeting between President Bola Tinubu and global investors, Oyedele also ruled out any return to petrol price controls, stressing that the government remains committed to a market-driven pricing system.
RelatedPosts
He noted that global developments, including geopolitical tensions, could create new investment opportunities as countries seek to diversify energy sources and expand into emerging markets.
READ ALSO:
- Abba Yusuf’s Wife, Zainab Musa Kwankwaso, Files for Divorce After 20 Years of Marriage, Offers to Refund Dowry
- Temiwhite Plug expands entertainment footprint, hails Sanmi Baba as one of Nigeria’s finest music producers
- Zamfara Stands Still As Gov. Lawal Hosts First Lady Remi Tinubu For Mega Rally And Women’s Empowerment
- American Consulate Hosts Bolanle Austen-Peters Ahead Of Lagos International Theatre Festival
- Uyo Book Club to Honour Ex-Akwa Ibom Governor Victor Attah at 88 With Colloquium
