RismadarVoice Reporters, May 6, 2026
Nigeria’s downstream petroleum sector is bracing for fresh price pressures following another upward adjustment by Dangote Refinery, which has increased its ex-depot price of Premium Motor Spirit (PMS) to N1,350 per litre.
The latest revision, confirmed on Wednesday by a senior refinery official and industry pricing platform Petroleumprice.ng, represents a N75 increase from the previous rate of N1,275 per litre.
The move marks the second hike of the same margin within a week, underscoring the rapid pace of price recalibration in the deregulated market.
According to industry sources, the new gantry price has been fully implemented across all loading points, compelling fuel marketers to immediately revise their depot and retail pricing structures.
“The new pricing template has been activated across the board,” a senior official familiar with the development disclosed. “All loading points have been updated, and marketers are already adjusting accordingly. This reflects broader supply and cost realities rather than a one-off change.”
The adjustment comes just days after the refinery raised prices from N1,200 to N1,275 per litre, highlighting its growing influence on domestic fuel pricing as Nigeria shifts away from import dependence toward local refining.
Despite the successive increases, a senior executive within the Dangote Group recently indicated that the refinery has been absorbing part of the cost burden by effectively subsidising petrol and diesel supplied to the domestic market.
Market analysts link the latest hike to a combination of supply disruptions and rising operational costs. Earlier in the week, the temporary suspension of pro forma invoice (PFI) issuance reportedly constrained product availability, tightening supply across the distribution chain.
“The PFI suspension created a short-term squeeze,” the official explained. “When you factor in global crude price movements and logistics expenses, upward price adjustments become inevitable.”
Over the past month, the refinery has revised its petrol prices multiple times, reflecting fluctuations in crude oil sourcing costs, foreign exchange dynamics, and distribution challenges. While there were brief price reductions driven by competition and inventory build-up, the trend has since reversed amid tightening supply and firmer global oil benchmarks.
Industry observers say the pattern signals a transitional phase in Nigeria’s fuel market. With domestic refining increasingly replacing imports, pricing remains closely tied to international market forces, leaving room for continued volatility.
The latest increase is expected to ripple through the economy, pushing pump prices higher nationwide as marketers pass on additional costs to consumers.
For many Nigerians already facing rising inflation and transport expenses, the development is likely to deepen cost-of-living pressures in the coming weeks.
