Dangote Petroleum Refinery & Petrochemicals has announced an immediate upward adjustment in the ex-refinery (gantry) price of Premium Motor Spirit (PMS), popularly known as petrol, from ₦699 per litre to ₦799 per litre, effective January 27, 2026.
The new pricing structure means major retail outlets supplied directly by the refinery, such as MRS Oil Nigeria Plc, have begun selling petrol at ₦839 per litre across their stations in Lagos and other parts of the country.
Dangote officials attributed the increase to sharp rise in the international price of crude oil benchmark (Brent crude crossed $88/barrel in recent days).
Fluctuations in the naira-dollar exchange rate affecting the cost of imported crude feedstock and Higher operational and logistics costs amid ongoing efforts to ramp up production to 50 million litres per day.
The adjustment comes barely two weeks after the refinery declared “a new phase of abundance” and promised stable or declining prices following the achievement of 50 million litres daily output and 24-hour loading operations.
Long queues have reappeared at some filling stations in Lagos, Abuja, and Port Harcourt as motorists rush to buy before further increases, Transport unions have warned of an impending hike in fares, with commercial bus drivers already demanding between 15–25% increase on intra-city and inter-city routes and Small businesses and households relying on petrol-powered generators are bracing for higher electricity costs.
Nigerian National Petroleum Company Limited (NNPCL): Yet to issue an official reaction, but sources say the state-owned firm may adjust its own pump price in the coming days, Organised Labour (NLC/TUC): Called the increase “insensitive and punitive,” urging the Federal Government to intervene and provide palliatives.
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Petroleum Products Retail Outlets Owners Association (PETROAN): Welcomed the refinery’s transparency but expressed concern over the speed of the adjustment, warning it could reverse recent gains in fuel availability.
This is the first major price increase since Dangote began full-scale petrol production in late 2024 and follows earlier assurances that local refining would lead to cheaper and more stable fuel prices.
The development has reignited public debate on the impact of deregulation, forex volatility, and the role of private refineries in Nigeria’s downstream sector.
By Ogungbayi Beedee Adeyemi
Send tips to: adeyemi@ddnewsonline.com | 08168555497
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