Dangote Refinery Hikes Fuel Price, Halts Sales
Analysis based on 9 articles · First reported Apr 29, 2026 · Last updated Apr 29, 2026
The actions by Dangote Petroleum Refinery, including the price hike and supply suspension, are expected to lead to increased pump prices and potential fuel shortages across Nigeria, negatively impacting consumers and the downstream petroleum sector. Rising global crude oil prices, influenced by geopolitical tensions around the Strait of Hormuz, are increasing feedstock costs for refiners, further exacerbating pricing pressures.
Dangote Petroleum Refinery has increased its ex-depot price of Premium Motor Spirit by N75 per litre to N1,275 and suspended product sales due to a disruption in its Proforma Invoice process. This development has triggered concerns over a fresh round of fuel price hikes and supply disruptions across Nigeria. The price adjustment and sales suspension are expected to lead to higher depot costs and increased pump prices nationwide, impacting consumers already grappling with soaring living expenses. The situation is compounded by rising global crude oil prices, with Brent Crude trading at $114.80 per barrel and West Texas Intermediate at $103.40 per barrel, driven by geopolitical tensions around the Strait of Hormuz. These higher crude prices increase feedstock costs for refiners like Dangote Petroleum Refinery, forcing upward adjustments in refined product pricing. Stakeholders are calling for urgent intervention to stabilize fuel prices in Nigeria to prevent deeper economic hardship.
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