Dangote Refinery Increases Petrol Price in Nigeria Amid Market Stability Concerns

Dangote Refinery in Nigeria has increased the price of petrol from N699 to N799 per liter after the festive season. The refinery cited the need to ease pressure on the Nigerian economy and maintain market stability.

Despite plans to implement price reductions in 2024 and 2025, the refinery expressed concerns that some filling stations were not reflecting the reduced prices to benefit consumers. David Bird, the Supply Operations Chief Executive Officer of Dangote Refinery, assured the public of smooth daily domestic market supply and distribution.

The refinery's operational design allows for the processing of a wide range of crude feedstock to ensure continuous petrol supply, even during maintenance activities. The refinery's efforts aim to shield against import-related price fluctuations and supply disruptions, supporting long-term energy security and consumer value.