₦airaland Forum

The Dangote Petroleum Refinery has raised its gantry price of Premium Motor Spirit, popularly known as petrol, by N65 per litre, barely three days after its last increase.

The latest adjustment, which takes the refinery’s gantry price from N1,200 to N1,265 per litre, takes effect on Saturday.

It is the third price increase by the refinery in eight days, bringing the total rise within the period to N100 per litre, or 8.6 per cent.

The latest adjustment was contained in a price change communication from Dangote Petroleum Refinery and Petrochemicals FZE sighted by Sunday PUNCH.

The refinery also increased its coastal price from N1,582,380 to N1,669,545 per metric tonne.

It directed customers to return all existing Authorisations to Collect for repricing before loading.

“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption,” the company stated.

The latest increase represents a 5.4 per cent rise in the gantry price.

The refinery had on August 21 increased its petrol price from N1,165 to N1,185 per litre before raising it by another N15 to N1,200 on August 26.

With Saturday’s adjustment, the refinery has increased its petrol price by N100 per litre in just over a week.

The development is expected to trigger fresh adjustments in depot and retail prices as marketers reprice their products to reflect the higher cost of supply.

The latest increase comes amid volatility in the international oil market and concerns over crude supply and logistics costs.

According to industry pricing platform, Petroleumprice.ng, the latest adjustment may be linked to a rise in freight rates.

The development is also coming against the backdrop of concerns over the impact of the Iran-US conflict on global crude supply and petroleum product prices.

Following the refinery’s previous adjustment on August 26, independent petroleum marketers warned that fluctuations in crude prices, foreign exchange and other market variables were making business planning increasingly difficult.

The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, had said petrol was already selling between N1,250 and N1,300 per litre in some locations.

He warned that further disruptions in the international oil market could worsen price volatility and increase pressure on consumers.

The latest Dangote adjustment means its gantry price is now N265 above the N1,000 per litre threshold, raising the prospect of further increases in retail petrol prices and transportation costs.

The Dangote refinery, Africa’s largest oil refinery, has a nameplate capacity of 700,000 barrels per day and has emerged as a major supplier of refined petroleum products to the Nigerian market.

Reuters recently reported that the refinery was operating near its 700,000-barrel-per-day capacity, while between 30 and 40 per cent of its crude feedstock was being imported.

The reliance on imported crude exposes the refinery to movements in international crude prices, freight charges and other logistics costs.

The latest price review is therefore expected to have further implications for petrol prices across the downstream market in the coming days.

Source: https://punchng.com/dangote-hikes-petrol-price-three-times-in-eight-days/#google_vignette

Subsidy will be back soon.

79% of Nigerians are living in poverty.

Hehe is an economic bandit. These terrorists people are very smart

He owns the business so he do as he want.

NNPCL should go and rehabilitated their refineries.

to pay for East African refinery
We’re in trouble
You wanna trust USD billionaires & politicians
Lol

Election period is near, so politicians who invested, or have some other stake in the refinery need abundant returns to fuel their political machinery

N1285 at the pump this morning.

The man no dey try at all. Quick to increase then crude increase but slow or never reduce when crude fall . No sign of mercy at all.

cenaman:
He owns the business so he do as he want.

NNPCL should go and rehabilitated their refineries.

you guys should continue supporting rubbish...

cenaman:
He owns the business so he do as he want.

NNPCL should go and rehabilitated their refineries.

All thise responsible for the TAM of tge four refineries should be arrested and incarcerated.

Last last everyone in business set out to make profit.

But what the hell happened to naira for crude deal the government had with this wicked economist? Why is the government silent in a fragile period like this? Naija government are the weapon fashion against the masses 💔.. shame to those still supporting this evil called reform.

adenigga:
Source: https://punchng.com/dangote-hikes-petrol-price-three-times-in-eight-days/#google_vignette

The dude said he is targeting 100 billion dollars yearly income. He made 10 billion dollars in the first six months of this year alone already. The money will have to come from somewhere.

adenigga:
Source: https://punchng.com/dangote-hikes-petrol-price-three-times-in-eight-days/#google_vignette

Importation should be highly encouraged. Dangote is a petrol bandit.

It will favour me and my family, when Atiku talks of cheaper fuel, they don't want.

careers360ng:
Subsidy will be back soon.

Awon borders will be open soon

Nigeria is a very interesting country...

Using Naira rates, a litre of PMS in US is about #1450... on the average

In Nigeria, a litre of PMS is about #1300 on the average.

But in US, the minimum wage is about #1.7m p/m.

In Nigeria, minimum wage is #70k...

Yet, some people think it is OK to leave the masses to the vagaries and economics of the international market...

Atiku
Obi
Tinubu
All of dem talk say dem go commot subsidy.
Now d same Atiku above d use return of subsidy as him only campaign strategy and naija people d buy am. and dem wan vote am now only because of subsidy return, as if subsidy d drive our economy
some people dey truly lost

Because there is no regional government..this is the only area that I blamed Thomas Ajuiyi Ironsi for joining us at the center.

If not where will Hausa and Yoruba see oil to hike price.

When there is conversation on subsidy someone started increasing petrol price to draw the government to the round table for negotiation.

The government hands are tied and they know they need to win election.

What a strategy

ppogba:
N1285 at the pump this morning.

Wrong
#1325 here
Drop pls

NewOrlleans:
Dangote doesn't love the masses neither is he coming to save us

Is he ur government? He is a business man like you and me that need maximum profit

This is what happens when someone is given monopoly of the petroleum market

Atiku is going to Atikulate back our
subsidy under a transparent scheme,
instead of the scammious subsidy regime
of the APC .....

⛽️ ⛽️ ⛽️ ⛽️ ⛽️

And some people are saying we should stop IMPORTATION 😂

Look at cement, look at fuel

Oil price is going down in the world market but our price is going up here despite the fact that exchange rate is stable

Petrol was 800 when oil price stood at $80, today pile price is back to $80 but petrol still sold for 1300 here in Nigeria which is very funny

I might vote for an Atiku because of this fuel price issues

The greed of this man is becoming increasingly difficult to comprehend. He keeps increasing the prices of essential commodities to unreasonable levels, with little justification that makes sense to the ordinary Nigerian.

And yes, this is an argument against Dangote. We should stop pretending otherwise.

There is no convincing reason why Nigerians should be paying exorbitant prices for petrol in an oil-producing country. Nigeria is blessed with crude oil, yet Nigerians are made to pay through their noses for the refined product. There was a time in this country when a litre of table water could cost more than a litre of petrol. Now fuel has become one of the biggest burdens on households and businesses. And what happened to kerosene?
ANYTHING ABOVE ₦500 Per litre IN THIS ECONOMY IS NOTHING BUT GREED AND WICKEDNESS.

Look at countries with enormous oil reserves. Even nations facing war, sanctions, economic hardship and international pressure have managed to keep fuel considerably cheaper for their citizens. Iran, despite being under severe sanctions and geopolitical pressure, has heavily subsidised domestic fuel. Libya, despite years of instability and conflict, still maintains remarkably cheap fuel prices. Yet here we are, in an oil-producing country, paying increasingly ridiculous prices for petrol.

Then there is cement.

Nigeria has abundant limestone deposits and enormous cement production capacity. We are producing more cement than the domestic market can consume, and yet Nigerians continue to face some of the highest cement prices around. What makes it even more absurd is the reports of Nigerian-produced cement being sold more cheaply in neighbouring countries than it is available to Nigerians at home.

How does that make sense?

How can the country that provides the raw materials, labour and market for a product end up paying more for that product than neighbouring countries?

At some point, we have to stop calling everything "business" and start asking whether this is simply exploitation of a captive Nigerian market.

Dangote has every right to make money. But Nigerians also have every right to question a business model that continually pushes the prices of essential commodities upward while ordinary people struggle to survive.

What makes this even more disturbing is the silence and weakness of the Nigerian government. Instead of aggressively investigating pricing, production costs, market dominance and profit margins, the government seems perfectly comfortable allowing one of the country's most powerful businessmen to dictate prices in sectors that directly affect the lives of millions of Nigerians.

This is not about jealousy. It is not about hating successful Nigerians. And it certainly isn't about saying Dangote shouldn't make profits.

It is about asking why the Nigerian consumer always seems to be the one who gets screwed.

We have the crude oil. We have the limestone. We have the labour. We have the market. We have the natural resources.

Yet somehow, the Nigerian is still expected to pay more.

That is unacceptable.

And if Dangote's pricing is contributing to that situation, then Nigerians have every right to criticise Dangote, question his pricing and demand better value.

Businessmen are not above criticism simply because they are successful.

And governments certainly shouldn't be above criticism for allowing concentrated economic power to operate at the expense of millions of Nigerians.

Nigeria is not supposed to be a country where being rich means you can keep making essential goods more expensive and expect everyone else to simply shut up and pay.

yinkeys:
to pay for East African refinery
We’re in trouble

Where is the refinery that Tinubu is paying for since he has failed to crash petrol prices below N185 despite two NNPC refineries working since 2015?

Can you please share the location.

LabStores:
The greed of this man is impeccable...

His greed, if any, pales in comparison to the greed of the master strategist of a-looter propaganda politics.

The man who steals trillions of Lagos budget yearly instead of employing well paid civil servants to make basic services and utilities available for all.

Any idea what Jagaban of Borgu is doing with his $84 billion subsidy savings, increased revenue August target and more loans than when Atiku and PDP gave us cheap petrol and cheap dollars if roads are worse now?

givedemwotowoto:

“This is how the Benin–Asaba Expressway looks yesterday, Thursday, August 20, 2026. Look at how cars and trailers are stuck because of the bad road. Mr Peter Obi advised the APC to start fixing existing roads, but instead, they are att@cking him. Instead of Dave Umahi focusing on… pic.twitter.com/k3V0eCNOo8

— CHUKS 🍥 (@ChuksEricE) August 21, 2026

Dangote no be father christmas, so one cant really complain too much if he chooses to be brutal. It's the useless successive governments I blame, both state and federal level. After spending billions of dollars over the years on maintenance, tell me why no public refineries are working after 27 years and not a single person has or will ever be punished for the heist?

Also, tell me why states like Delta, Rivers, Akwa-Ibom or Bayelsa can't build refineries, even if it were just mini modular refineries? Everyone's busy building useless flyovers to impress people who think flyovers are a measure of legacy achievement. The newest craze is now setting up of airlines, but somehow we expect Dangote to do the work of government?

careers360ng:
Subsidy will be back soon.

At the expense of tripling our debt