Retail petrol prices across Nigeria may rise to between N980 and over N1,000 per litre following a fresh increase in the gantry price by Dangote Petroleum Refinery.
A senior refinery official confirmed that the gantry price of Premium Motor Spirit (PMS) was reviewed from N774 to N874 per litre, citing changes in global crude oil prices and replacement costs.
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, said the adjustment would likely push pump prices higher nationwide.
“Following the increase by Dangote, the pump price will likely range between N980 and over N1,000 per litre, depending on location and logistics,” Ukadike said.
A notice issued to marketers by the refinery confirmed PMS availability at the new rate of N874 per litre.
The price review follows recent volatility in the international oil market, with Brent crude trading near $80 per barrel amid geopolitical tensions in the Middle East. Industry analysts warn that further increases in crude prices could affect domestic fuel costs despite Nigeria’s expanding refining capacity.
Meanwhile, President of the Dangote Group, Aliko Dangote, said the refinery forms part of a broader industrial expansion strategy that includes investments in power generation, steel production and port infrastructure aimed at strengthening domestic energy security.
The development highlights continued sensitivity in Nigeria’s fuel pricing to global oil market movements.
