₦airaland Forum

By Ogaga Ariemu


Dangote Refinery’s retail price of Premium Motor Spirit, PMS, known as petrol, has risen to N950 per litre at MRS filling stations in Abuja.

This increase comes despite the refinery’s 650,000-barrel-per-day capacity, the nationwide Compressed Natural Gas, CNG truck distribution scheme, and the Naira for Crude initiative between the oil firm and the Nigerian government.

As of Tuesday, 14th October 2025, MRS filling stations in Abuja, owned by Aliko Dangote’s half-brother, Sayyu Dantata, dispensed petrol at N851 per litre at outlets in Kubwa and along the Lugbe Expressway.

However, on Wednesday, DAILY POST correspondents gathered that fuel prices at MRS filling stations had surged by N100 to N950 per litre.

The same price increase applies to other Dangote Refinery retail partners such as Ardova and Optima.

A manager at MRS, who spoke to DAILY POST on condition of anonymity, said the refinery’s wholesale price to marketers had risen in the last two days due to supply shortages.

“We had no choice. The N950 per litre we currently dispense is only slightly above the amount Dangote Refinery now charges us. It is no longer N850 per litre. The price has also gone up in Lagos and other cities,” the source said.

Meanwhile, DAILY POST reports that Dangote Refinery has yet to comment on the nationwide petrol price hike.

Recall that Dangote Refinery had previously assured Nigerians that its fuel distribution scheme would reduce pump prices; however, the recent development shows the reverse, as consumers now pay more for petrol.

Experts in the oil sector told DAILY POST that the refinery had halted gantry petrol loading in recent days, prioritising its last-mile distribution scheme due to a production shortfall.

The development comes weeks after the federal government, through the Nigerian National Petroleum Company Limited, NNPCL, renewed its Naira for Crude deal with the refinery.

Barely two days ago, NNPCL and other major filling stations also raised petrol prices to N955 per litre, up from between N905 and N920 in Abuja and its environs.

This was reportedly due to supply disruptions from Dangote Refinery, which led depot owners, including Ranoil, Matrix, AA Rano, and AYM Shafa, to increase their ex-depot prices to between N885 and N897 per litre in Lagos and Warri as of Tuesday.

Consequently, Nigerians now buy petrol across retail outlets nationwide for between N950 and N990 per litre, depending on location.

ibechris:
I said this some months ago...the man does not want any competitor at all.

ibechris:
I said this some months ago...the man does not want any competitor at all.

fineboynl:
No reason for increase? All this are election money. If you know you know

onatisi:
Nigeria is in a big mess and ahit. May God help the poor masses in Nigeria to survive this Tinubu era

Deltafirstson:
Although the pump price of fuel was N197 when President Bola Tinubu took over on May 29, 2023, the product now sells for N617 per litre – less than two months after.

In his inaugural address, Tinubu announced that subsidy was gone, fulfilling a promise that all leading presidential candidates made during the campaign.

However, pump price of fuel hit N537 per litre days after Tinubu ended subsidy.

On Tuesday, the price climbed further to N617, a development that the Nigerian National Petroleum Corporation Limited (NNPCL) attributed to “market forces”.

Nigerians have been lamenting the hardship occasioned by fuel price hike. Amid the lamentation, a video where Tinubu campaigned to slash the price of fuel went into circulation.

Checks by Daily Trust affirmed the authenticity of the video uploaded on the YouTube page of Channels Television.

At his campaign rally in Abeokuta, Ogun State capital, on January 25, 2023, Tinubu spoke on a number of issues, but those of fuel scarcity and naira redesign made the headlines.

However, Tinubu who spoke in Yoruba language, also assured the crowd that though people were saying petrol price would hit N200, it would be reviewed downward under him.

“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200 per litre. Go and relax, we will bring it down,” he had said in the 7th minute of the video.

King Wasiu Ayinde Marshall, a Fuji musician who performed at the rally, interrupted the president’s speech with chants as the crowd cheered.

On the campaign podium with the president were Vice-President Kashim Shettima; Pa Bisi Akande, interim National Chairman of the APC; Femi Gbajabiamila, Chief of Staff to the President; Senator Gbenga Daniel; among other bigwigs of the ruling party.

Tinubu went further to say Nigerians would defy the acute fuel scarcity at the time and trek to cast their votes.

“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200/N500 per litre. Go and relax, we will crash the prices,” he had said.

https://dailytrust.com/breaking-video-of-tinubu-campaigning-to-crash-fuel-

he had said in the 7th minute of the video.



https://www.youtube.com/watch?v=4JH8CC_JdUA

Gentledove2001:
He is just a business man and Nigerians should understand this.

EdiskyHarry:
Dangote is a very smart man, once he over powers all competitors, if u go fit buy fuel again for Nigeria make I know why. He will always come initially as the Messiah

Princecalm:
Jul 29, 2015

The Nigerian National Petroleum Corporation has announced that the Port Harcourt and Warri refineries have been successfully re-streamed after a nine-month rehabilitation exercise conducted by its in-house engineers and technicians.

The corporation, in a statement, noted that both plants commenced preliminary production of petroleum products after successful test-runs, adding that while PHRC was ramping up its operation to about 60 per cent of its 210,000 barrels per day capacity, WRPC production was projected to hit 80 per cent of its installed 125,000bpd capacity.

The NNPC said the Port Harcourt refinery was projected to boost the nation’s local refining capacity with a product yield of five million litres of petrol per day, while Warri refinery would contribute 3.5 million litres of petrol.

Providing insight into the rehabilitation exercise, the NNPC noted that it had to adopt the phased rehabilitation strategy after the Original Refinery Builders, who were initially contacted for the project came up with unfavorable terms.

It said, “Though a decision was taken in 2011 to rehabilitate all the refineries using the ORB of each of the refineries, we were impelled to switch strategy after the ORBs declined participation and nominated some partners in their stead who came up with outrageously unfavorable terms.”

The NNPC stated that the nominated partners, as sole-bidders, came up with humongous price offers after two years of thorough and exhaustive scope of work definition and price negotiations.

It added that the proxies were also unwilling to provide post rehabilitation performance guarantees.

The corporation said, “The phased rehabilitation strategy which entailed phased and simultaneous rehabilitation of all the refineries using in-house and locally available resources in line with the spirit and letter of the Nigerian Content Law, also involved the use of Original Equipment Manufacturer representatives to effect major equipment overhaul and rehabilitation.”

The national oil firm said the phased rehabilitation programme, which started in October 2014 after the required funding stream was established, created a 70 per cent reduction in costs which helped largely in mitigating the financing challenges of refinery rehabilitation.

It observed that with the successful re-streaming of the PHRC and WRPC, attention has now moved to the 110,000 barrels per day Kaduna Refining and Petrochemicals Company which was billed to come on stream soon.

http://www.punchng.com/news/pharcourt-warri-refineries-commence-preliminary-operations-nnpc/

aribisala0:
Does America allow. any business to hold the country to ransom

They have very robust antitrust laws

Why is cement $2 in China and $7
In America

Yes he is a business man but no country places strategic business in the hands of 1or 2 or 3 companies without antitrust measures

The number one antitrust measures is to prevent extraordinary profits

By EBITDA. Dangote is the MOST PROFITABLE CEMENT BUSINESS IN THE WORLD

cement is not AI or anything innovative

LabStores:
Okay.

But why is Dangote refinery always in the news?
He is just one out of supposedly many.

What is NNPC doing?

What about Port Harcourt refinery?
What about kanuna refinery?

What about all the so-called modular refineries setup by past administration too?

Why always just calling out a private refinery developed by a business man?
Why can't the government just be responsible?

Gentledove2001:
He is just a business man and Nigerians should understand this.

DeLaRue:
What a headline.

Mr Dangote does not own petrol stations anywhere in Nigeria.

aribisala0:
Does America allow. any business to hold the country to ransom

They have very robust antitrust laws

Why is cement $2 in China and $7
In America

Yes he is a business man but no country places strategic business in the hands of 1or 2 or 3 companies without antitrust measures

The number one antitrust measures is to prevent extraordinary profits

By EBITDA. Dangote is the MOST PROFITABLE CEMENT BUSINESS IN THE WORLD

cement is not AI or anything innovative

A History of U.S. Monopolies

The business practices and questionable tactics that Rockefeller used to create Standard Oil would make the Enron crowd blush. But the finished product was not nearly as damaging to the economy or the environment as the industry was before Rockefeller monopolized it.

In the early days of the oil industry, many competing oil companies were eager to find a source and drilled indiscriminately, pumping waste products into rivers or straight out on the ground rather than troubling with proper disposal. They cut costs by using shoddy pipelines that were prone to leakage.

By the time Standard Oil had cornered 90% of oil production and distribution in the U.S., it had learned how to make money off of even its industrial waste, with Vaseline being one of the new products that were developed.

The benefits of having a monopoly like Standard Oil in the country were only evident after it had built a nationwide infrastructure for oil distribution in order to avoid dependence on trains and their notoriously fluctuating costs.

The size of Standard Oil allowed it to undertake projects that smaller competitors could never have embarked upon. In that sense, it was as beneficial as state-regulated utilities for developing the U.S. into an industrial nation.
Despite the eventual breakup of Standard Oil in 1911, the government realized that a monopoly could build up a reliable infrastructure and deliver low-cost service to a broader base of consumers than competing firms. That lesson influenced its decision to allow the AT&T monopoly to continue until 1982.

https://www.investopedia.com/insights/history-of-us-monopolies/

Gentledove2001:
What you stated above makes sense but the countries you listed are over 1000years old, they where once like Nigeria. The difference between the countries and Nigeria is just the system. In America, they have a strong institution that checkmate Individuals but in Nigeria the system makes Individuals stronger than our institutions.

anonimi:
Did Americans have antitrust laws when they were struggling with extreme poverty and illiteracy, as we are now

slivertongue:
In as much as hail the establishment of dangote refinery I am carried away by his antics because he is a hardcore capitalist

anonimi:
Neo-black Problem: Must Blacks Be Ruled by Whites in Order to Prosper?

In short, the neo-black dilemma may be framed as follows: is it better to live under white rule without political dignity but with basic life-sustaining standards for many;

or to live under black rule with illusory political dignity and without basic life- sustaining standards for the majority?
@
@
The path forward for Africa lies in cultivating higher and adequate levels of personal and communal agential integrity as well as full personal responsibility and productivity. Not to mention creativity (including epistemic creativity), productive justice (such as merit and freedom), harmony and reconciliation at local and international levels, and a proper domestication of capitalism and other related values and institutions.

Africa must stop wasting her time on dreams of socialism because it is a system of wealth distribution primarily. Whereas, capitalism is a system of wealth creation primarily, and wealth has to be produced before it can be distributed.

https://www.thisdaylive.com/index.php/2024/10/12/neo-black-problem-must-blacks-be-ruled-by-whites-in-order-to-prosper/