Filling Stations Immediately Change Petrol Price as Dangote Refinery Makes New Announcement

• Dangote Refinery increased the ex-depot price of petrol from N825 to N880 per litre, prompting filling stations in Lagos to hike pump prices
• Despite the rise, Dangote’s rate remains the lowest compared to other suppliers like Aiteo, Bovas, and Rainoil
• The refinery, facing crude supply shortages, is now heavily relying on imports from the United States to meet its production needs

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The increase in the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, announced by Dangote Refinery late Friday, prompted filling stations throughout the Lagos metropolis on Saturday morning.

On Friday, June 20th Dangote Refinery raised the ex-depot price of petrol by N55 per litre, from N825 to N880.

Members of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), NNPC retail outlets, Independent Petroleum Marketers Association of Nigeria (IPMAN), and the Major Energy Marketers Association of Nigeria (MEMAN) quickly adjusted their metres in response to the increase.

Before the hike, prices at NNPC retail locations stood at N870 per litre, but by Saturday morning, they had changed to N910 and N925 per litre, respectively.

Other marketers, including Dangote’s partners – MRS, Ardova, and Heyden – adopted the same pricing pattern.

However, additional research conducted by Sunday Sun on petroleumprice.ng, an oil trading platform, showed that Dangote remained the most affordable even at the new ex-depot price of N880 per litre.

According to the platform, other ex-depot prices for petrol included N893 per litre for Aiteo, N920 per litre for Ever, N910 per litre for Bovas, and N920 per litre for both Rainoil and WOSBAB.

Aliko Dangote, the president of the Dangote Group, stated last Thursday that his refinery, which has a capacity of 650,000 barrels per day, was “increasingly” reliant on the United States for its crude oil.

The refinery is expected to import 17.65 million barrels of crude oil between April and July 2025, starting with about 3.65 million barrels that have already been supplied over the past two months, according to available trade data.

This is in addition to the regular allocations made under the Federal Government’s naira-for-crude policy.

Dangote told the technical committee of the One-Stop Shop for the sale of crude and processed goods in the naira project that the refinery was still struggling with crude shortages, which had forced it to purchase supplies from the United States.

Nigerians believe that the Dangote refinery's operation will facilitate competition in the energy sector, thereby causing the price to dip.

Nkechi Peter said,

"We have seen a reasonable decline in fuel price in the last few month ever since Dangote started petrol production. It is believed that Nigerians will continue to benefit from this development."

Petrol price hikes Loom, as filling stations shut down

Legit.ng reported that uncertainty has returned to Nigeria’s downstream sector following the suspension of fuel sales on Tuesday, June 17, 2025, by Dangote Refinery.

The move has also caused fears of imminent price increases, especially as global crude benchmarks rose due to the escalating Middle East tension between Iran and Israel.

The halt in supply by the mega refinery, ahead of its planned nationwide fuel distribution, has caused jitters among depot owners and major fuel buyers.

Source: Legit.ng