Dangote Petroleum Refinery has increased its ex-depot price for Premium Motor Spirit (petrol) from ₦825 to ₦880 per litre, representing a ₦55 hike. The price adjustment, announced on June 20, 2025, is expected to trigger a ripple effect across Nigeria’s fuel distribution chain, likely pushing pump prices above ₦900 per litre in many parts of the country, especially in areas far from distribution hubs.
The increase comes despite a decline in global crude oil prices, with Brent crude falling to $76.47 per barrel. The refinery attributes the price hike to rising operational costs, exchange rate instability, and an increased reliance on imported U.S. crude oil amid ongoing crude shortages. Dangote Group President Aliko Dangote revealed that the refinery is projected to import over 17 million barrels of crude oil between April and July 2025 to meet production needs.
Industry experts and union leaders have criticized the disparity between falling global crude prices and rising domestic petrol costs, calling for more affordable fuel prices for Nigerians. The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) insists that petrol should retail between ₦700 and ₦750 per litre based on current market conditions.
Following Dangote’s price hike, fuel marketers and depot owners in major cities like Lagos and Abuja have begun adjusting pump prices accordingly, signaling a likely increase in consumer fuel costs nationwide.