Dangote Refinery Hikes Petrol Prices
Analysis based on 24 articles · First reported Mar 02, 2026 · Last updated Mar 21, 2026
The repeated price increases by Dangote Petroleum Refinery are expected to lead to higher pump prices across Nigeria, increasing costs for consumers and potentially impacting inflation. This highlights Nigeria's continued vulnerability to global crude oil price volatility and supply chain disruptions, despite domestic refining efforts.
Dangote Petroleum Refinery has repeatedly increased the price of Premium Motor Spirit (petrol) and diesel in March 2026, citing escalating global geopolitical tensions and rising crude oil prices. The latest hike raised the ex-depot price of petrol to N1,245 per litre, effective March 21, 2026. These adjustments, which have seen prices climb significantly within days, are attributed to external factors such as the Middle East conflict involving the United States and Iran, which has driven up crude oil and freight costs. The refinery states it has absorbed some of the cost escalation to cushion the domestic market and is committed to stabilizing Nigeria's energy supply. However, the increases are expected to ripple across the downstream sector, leading to higher pump prices for Nigerian consumers and underscoring the market's vulnerability to international oil dynamics. Major Energies Marketers Association of Nigeria data indicates that imported petrol is currently cheaper than that produced by Dangote Petroleum Refinery.
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