Dangote Refinery Increases Petrol Prices Nationwide to Support Market Stability

Dangote Refinery has announced a nationwide increase in petrol prices, adjusting the pump prices to N699 per liter for gantry price, N799 per liter for pump price, and N839 per liter at retail outlets. The adjustment follows the conclusion of the festive season to return to normal market conditions.

The company aims to realign prices to sustain levels that support long-term market stability and affordability. Dangote Refinery expressed concerns about some filling stations not implementing the price reduction to ensure Nigerians fully benefit from the intervention.

The refinery reaffirmed its commitment to steady fuel supply to balance the market. David Bird, the Chief Executive Officer of Dangote Petroleum Refinery, disclosed that the refinery currently supplies 50 million liters of premium motor spirit daily to the Nigerian market.

The refinery's product system allows for flexibility in fuel supply even during scheduled maintenance, aiming to shield the Nigerian market from global price shocks and supply challenges.