Nigeria’s Dangote Petroleum Refinery has raised the ex‑depot price of petrol by more than one hundred naira per litre, triggering fresh concerns over the cost of living in Africa’s largest economy.
The refinery adjusted its gantry price from about seven hundred seventy-four naira to eight hundred and seventy-four naira per litre, citing volatility in global crude oil markets and rising replacement costs. The move is expected to push retail pump prices close to one thousand naira per litre nationwide, depending on location and distribution expenses.
Major marketers, including MRS Oil Nigeria Plc and the state‑run Nigerian National Petroleum Company (NNPC), are preparing to adjust their pump prices in line with the new benchmark. Industry officials say the increases are unavoidable given the surge in international crude prices.
The Independent Petroleum Marketers Association of Nigeria confirmed the likely impact, warning that motorists could soon pay between nine hundred and eighty naira and above one thousand naira per litre. “Following the increase by Dangote, the pump price will likely range depending on logistics and location,” said Chinedu Ukadike, the association’s national publicity secretary.
Public reaction has been swift. Commuters and transport operators expressed frustration, saying the rise will worsen inflation and make daily life more difficult. Advocacy groups have urged the government to intervene, arguing that ordinary Nigerians are bearing the brunt of global market shocks.
Economists caution that the adjustment could ripple across the economy, raising food and transport costs while fueling broader inflationary pressures. They note that Nigeria’s reliance on imported fuel and volatile crude markets continues to expose consumers to sudden price swings.
For now, the government has not announced any relief measures. Analysts say the situation underscores the challenge of balancing refinery economics with public welfare, as Nigeria struggles to stabilize its energy sector amid global uncertainty.
