Dangote Refinery Increases Petrol Price to ₦1,245 Per Litre

The Dangote Refinery has once again taken center stage in Nigeria’s downstream petroleum sector with the announcement of a fresh increase in the price of Premium Motor Spirit (PMS). The refinery raised its gantry price from ₦1,175 to ₦1,245 per litre, representing a ₦70 increment that is expected to have widespread implications across the fuel distribution chain. The new pricing officially took effect from 12:00 a.m. on March 21, 2026, covering all outstanding and unloaded product volumes.

This latest move by the Dangote Refinery reflects the refinery’s growing influence as a dominant player in Nigeria’s fuel supply ecosystem. With its massive refining capacity and strategic importance, the facility has become a key determinant of petrol pricing in the country, particularly in the post-subsidy era where market forces play a more active role.

Industry experts highlight that the pricing adjustment underscores how the Dangote Refinery is aligning its operations with global realities. As international crude oil prices fluctuate due to geopolitical developments, local refiners are increasingly compelled to adjust their pricing structures to remain sustainable and competitive.

Dangote Refinery Raises Coastal Supply Price Amid Global Oil Market Uncertainty

In addition to the gantry price hike, the Dangote Refinery also increased its coastal supply price, moving it from ₦1,512,648 to ₦1,606,518 per metric tonne. This adjustment affects bulk buyers and marine-based fuel distribution, further emphasizing the refinery’s comprehensive pricing strategy across multiple supply channels.g

The Dangote Refinery attributed both price increases to persistent global geopolitical tensions, which continue to disrupt crude oil supply chains and elevate operational costs.

Factors such as international conflicts, shipping challenges, and rising insurance premiums have significantly impacted the cost of refining and distributing petroleum products worldwide.

Analysts believe that the decision by the Dangote Refinery could trigger a ripple effect not only within Nigeria but also across West Africa. As one of the largest refining hubs on the continent, its pricing decisions are closely monitored by neighboring countries that depend on Nigerian fuel exports.

Dangote Refinery Sets Payment Deadline for Customers Over Price Adjustment

To ensure a smooth transition to the new pricing regime, the Dangote Refinery has issued directives to customers with existing supply agreements. Clients holding valid Bank Guarantees are allowed to continue product loading under their current terms, but they must settle the price difference resulting from the ₦70 increase.

The Dangote has fixed March 23, 2026, as the deadline for all differential payments. This measure is designed to maintain transparency and operational efficiency, ensuring that all transactions reflect the updated pricing structure without causing disruptions in supply.

Market observers note that the structured approach adopted by the Dangote Refinery signals a shift toward a more disciplined and commercially driven petroleum market in Nigeria. As the refinery continues to expand its footprint, its policies and pricing decisions are expected to play a defining role in shaping fuel affordability and energy stability across the nation.