Fuel marketers and the Dangote Petroleum Refinery have exchanged views over the recent adjustment in petrol prices in Nigeria, following rising global crude oil costs linked to tensions in the Middle East.
The discussion emerged after the Dangote refinery increased its ex-depot price for Premium Motor Spirit (PMS), commonly known as petrol.
The adjustment comes at a time when global oil markets have experienced volatility amid the ongoing crisis in the Middle East.
Industry stakeholders say the development has affected pricing across Nigeria’s downstream petroleum sector.
The Dangote refinery recently raised its gantry price for petrol by ₦100 per litre, bringing the ex-depot price to ₦874 per litre.
Following the adjustment, some filling stations increased pump prices to above ₦900 per litre, reflecting changes in supply costs across the distribution chain.
The refinery explained that the price review was influenced by rising global crude oil and freight costs.
According to the company, benchmark Brent crude rose by about 26 percent to above $84 per barrel during the period of the Middle East crisis.
Dangote Refinery stated that the increase represents about a 12 percent adjustment in the ex-depot petrol price. The company added that it absorbed part of the rising costs to reduce the impact on the domestic market.
The refinery also noted that it currently receives five crude cargoes monthly from the Nigerian National Petroleum Company Limited, instead of the 13 cargoes required for optimal operations.
According to the company, crude supplied to the refinery is purchased at international market prices. It explained that Nigerian crude often sells $3 to $6 above the Brent benchmark, with additional freight costs of about $3.50 per barrel.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that domestic refineries supplied about 40.1 million litres of petrol daily in January 2026, while imports accounted for 24.8 million litres per day.
The report also indicated that total average daily petrol supply during the period reached 64.9 million litres.
Industry figures show that the Dangote refinery currently produces the largest share of domestically refined petrol in Nigeria.
Stakeholders say the current situation highlights the influence of global crude oil prices on Nigeria’s fuel market, despite increasing domestic refining capacity.
