Dangote Petroleum Refinery has announced a ₦100 per litre increase in the retail price of Premium Motor Spirit (PMS) across Nigeria.
In a statement issued on Monday, the $20 billion refinery said its petrol gantry price has risen to ₦799 per litre, while the retail price at MRS outlets now stands at ₦839 per litre. This represents an increase from the previous prices of ₦699 and ₦739 per litre respectively, which had been in effect since December last year.
“Under the current alignment, the PMS gantry price is ₦799 per litre, while MRS retail outlets are selling at ₦839 per litre,” the company said.
The Chief Executive Officer of Dangote Petroleum Refinery, David Bird, stated that the facility continues to supply about 50 million litres of PMS daily to the domestic market, adding that nationwide evacuation and distribution remain uninterrupted.
Reports shows that the refinery recently resorted to importing petrol to support supply following downtime at its Residual Fluid Catalytic Cracker (RFCC), according to data from Kpler.
As of Monday night, petrol prices at retail outlets, including those operated by the Nigerian National Petroleum Company Limited, ranged between ₦805 and ₦830 per litre.
Industry watchers say the latest adjustment by Dangote Refinery could trigger a broader increase in petrol prices across Nigeria’s downstream sector.
In December last year, the President of the Dangote Group, Aliko Dangote, had said the refinery’s ₦739 per litre retail price would be maintained nationwide to discourage fuel imports, stressing that petrol should not be sold above ₦740 per litre.
