Nigerian Marketers Adjust Pump Prices After Dangote Refinery Raises Petrol Cost by N96

Nigerian marketers and filling stations have responded to an increase in petrol cost by Dangote Refinery, which raised its ex-depot price by N96 per liter. Dangote Refinery disclosed a new price of N799 per liter, with retail outlets pegging prices at N839 per liter.

Independent pump prices now range from N839 to N900 per liter. Despite the price adjustments, Dangote Refinery reaffirmed its commitment to ensuring a steady supply in the market.

The company introduced temporary price support measures during the recent festive season to ease the financial burden on Nigerians. However, there are concerns that some filling stations are not passing on the price reductions to consumers.

Dangote Petroleum Refinery's CEO, David Bird, highlighted the refinery's daily distribution capacity of approximately 50 million liters and its flexible design to process various crude oil grades. The refinery aims to maintain consistent supply and price stability in the Nigerian market.