Dangote Refinery Defends Petrol Price Hike Amid Subsidy Row

On August 31, 2026, Dangote Petroleum Refinery announced its third increase in the price of Premium Motor Spirit (petrol), now selling between N1,310 and N1,400 per litre across Nigeria. The refinery justified the price hike by citing the cost of crude oil purchased earlier and the lengthy logistics involved in securing, shipping, and delivering crude.

In Lagos and Ogun states, petrol is priced around N1,310, while northern states see prices rise to N1,350 or more. Concurrently, political tensions are rising over the removal of petrol subsidies, with the All Progressives Congress (APC) criticizing former Vice-President Atiku Abubakar's proposal to restore the subsidy.

APC National Chairman Prof Nentawe Yilwatda warned that such a move could reverse economic gains achieved through current reforms. The African Democratic Congress has also challenged the Federal Government to account for N15.8 trillion in additional revenues from subsidy reforms.