Nigeria Sees Petrol Price Hike After Dangote Refinery Adjustment

Oil marketers across Nigeria have begun to increase the pump prices of Premium Motor Spirit (PMS), commonly known as petrol, after Dangote Refinery raised its ex-depot price from N1,185 to N1,200 per litre on August 25, 2026. This N15 increase marks the second price hike by the refinery within five days.

The new pricing took effect on August 26, 2026, and marketers are expected to incorporate the higher costs into their pricing structures, considering transportation, distribution, and operational expenses. Dangote Refinery communicated this adjustment through its Group Commercial Operations department, notifying customers of the revised gantry and coastal delivery prices.

The coastal price also increased from N1,562,265 per metric tonne to N1,582,380 per metric tonne, a rise of N20,115 per metric tonne. Despite recent declines in international crude oil prices, some filling stations in major cities, including Abuja and Kano, have already adjusted their pump prices, with petrol selling between N1,250 and N1,290 per litre in certain areas.