Nigerian Private Depots Increase Petrol Prices to ₦800/Litre Amid Supply Concerns

Private petroleum depots in Lagos, including Dangote Depot, have raised petrol prices to ₦800 per litre, with concerns about a nationwide increase in retail pump prices. Other major depots like ShellPlux, AIPEC, Aiteo, and Matrix Energy have also adjusted their prices significantly.

The surge is linked to tighter supply chains and increased transport costs. Industry analysts attribute the price hike to a temporary shutdown of the petrol unit at Dangote Refinery, leading to a reliance on domestic suppliers.

Depot operators are cautioned against unsustainable pricing strategies, especially with Dangote Refinery expected to re-enter the market aggressively.