Dangote Refinery Raises Petrol Price, Resumes Fuel Sales in Naira

LAGOS, Nigeria – Dangote Petroleum Refinery has announced an increase in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, while also confirming the resumption of fuel sales in Nigerian naira.

The latest adjustment comes amid ongoing changes in Nigeria's downstream petroleum sector, with industry stakeholders closely monitoring fuel pricing following the deregulation of the market.

According to the refinery, the decision to review its petrol price reflects prevailing market conditions and operational realities. The company stated that the resumption of naira-denominated sales is intended to support domestic fuel distribution and improve accessibility for local marketers.

The price increase is expected to influence pump prices across the country, as marketers adjust their retail rates in line with the new ex-depot pricing. Industry analysts say the development could have broader implications for transportation costs, logistics, and the prices of goods and services.

Petroleum marketers have welcomed the return of naira transactions, noting that it could ease the burden of sourcing foreign exchange for domestic fuel purchases and simplify business operations within the local market.

Consumers, however, have expressed concern over the latest price adjustment, citing the potential impact on household expenses and the rising cost of living.

Despite the increase, stakeholders believe the refinery's continued supply of petroleum products to the local market could help improve product availability, reduce dependence on imports, and enhance competition within Nigeria's downstream oil sector.

The Dangote Refinery, regarded as Africa's largest single-train refinery, remains a key player in Nigeria's efforts to achieve energy security and strengthen domestic refining capacity. Industry observers are expected to continue monitoring how the latest pricing decision affects fuel distribution and market dynamics in the coming weeks.