Dangote Refinery has announced a sharp N100 increase in the retail price of Premium Motor Spirit (PMS) across Nigeria.
In a statement on Monday, the $20 billion refinery said its gantry price is now N799 per liter, while retail outlets are selling at N839 per liter—up from N699 and N739 per liter, respectively, since December.
“Under the current alignment, the PMS gantry price is N799 per liter, while retail outlets are selling at N839 per liter,” the company confirmed.
David Bird, CEO of Dangote Petroleum Refinery, reassured that the facility continues to supply around 50 million liters of PMS daily, with nationwide distribution running smoothly.
Recall that the refinery previously resorted to petrol imports to boost supply during downtime of its Residual Fluid Catalytic Cracker (RFCC), according to Kpler data.
As of Monday night, The News Chronicle retail stations, including those operated by the Nigerian National Petroleum Company Limited (NNPC), were dispensing petrol at between N805 and N830 per liter. Analysts warn that Dangote’s price adjustment may trigger a wider increase across Nigeria’s downstream sector.
Aliko Dangote, president of the refinery, had pledged in December that the N739-per-liter retail price would remain stable nationwide to undercut importers. At a press briefing on 14 December, he said, “We don’t want people to sell petrol for more than N740 nationwide.”
