₦airaland Forum

Petrol pump prices jumped to N1,395 per litre on Saturday as filling stations adjusted to the Dangote Petroleum Refinery’s latest pricing regime, which raised its gantry price to N1,350 per litre.

Checks by our correspondent showed that the Dangote-backed MRS filling station in Alapere, Lagos, changed its price from N1,310 to N1,395 on Saturday.

The price was N1,385 at the Mobil filling station on the same axis.

The Matrix filling station at Kara, Ogun State, sold petrol at N1,360 per litre, while Nigerian National Petroleum Company retail stations in Ibafo dispensed the product at N1,380 a litre.

It was also observed that some filling stations had yet to adjust their pump prices as of 6pm on Saturday.

Bovas sold petrol to motorists at N1,280.

The Dangote refinery increased the gantry price of premium motor spirit from N1,265 to N1,350 per litre, effective Saturday, 12 September 2026.

The PUNCH had earlier predicted that there could be a fresh hike in fuel prices following the rise in oil costs.

The latest adjustment is the fourth upward review of the Dangote refinery’s petrol gantry price since August 21.

Dangote had increased the price from N1,165 to N1,185 per litre on August 21 before raising it to N1,200 on August 26.

It subsequently increased the price to N1,265 on August 29 and has now added another N85 per litre, taking the gantry price to N1,350 in three weeks.

The successive increases have raised the refinery’s petrol price by N185 per litre, or about 15.9 per cent, in 22 days

mohbadliveson:
From N187 to N1,400 in just three years. The earlier you realise these wicked people don't care about Nigerians, the better. And some ignorant ones want Tinubu to return for another four years

Racoon:
The ripple effects of these price changes will be felt mostly by the downtrodden masses.

nairalanda1:
Fact is, we did not remove subsidy in 2012, when we should have.
entails.

ufotunang:
These are the results of voting an incompetent president into power..it's a pity

nairalanda1:
That N187 was made possible by massive printing of naira and borrowing.

Fact is, we did not remove subsidy in 2012, when we should have. The result was that government was forced to borrow to maintain the subsidy. And that created a massive debt, and also forced the Buhari government to raid the forex reserves...just to pay for the subsidy.

The result was the subsidy being removed to at least allow the government have some spending money, otherwise things would have really been bad.

Most African countries charge as high as NIgeria, most even higher. Only five african countries have some form of subsidy on fuel, and even those, (apart from Libya that can pay for subsides and refinery upkeep without breaking a sweat because they have a very small population)...maintain it at the expense of debt. If all African countries subsidsied fuel like we do, even the oil producers, they would have collapsed economically ages ago.

Choose your wickedness...removal of subsidy with harsh price increases but the chance of improved domestic refining and more jobs, and no more borrowing to fund subsidy, or maintianing subsidy with the borrowing it entails.

Wellmadenaija:
You be hypocrite. Who organised protest against the removal of fuel subsidy in 2012?

nairalanda1:
That N187 was made possible by massive printing of naira and borrowing.

Fact is, we did not remove subsidy in 2012, when we should have. The result was that government was forced to borrow to maintain the subsidy. And that created a massive debt, and also forced the Buhari government to raid the forex reserves...just to pay for the subsidy.

The result was the subsidy being removed to at least allow the government have some spending money, otherwise things would have really been bad.

Most African countries charge as high as NIgeria, most even higher. Only five african countries have some form of subsidy on fuel, and even those, (apart from Libya that can pay for subsides and refinery upkeep without breaking a sweat because they have a very small population)...maintain it at the expense of debt. If all African countries subsidsied fuel like we do, even the oil producers, they would have collapsed economically ages ago.

Choose your wickedness...removal of subsidy with harsh price increases but the chance of improved domestic refining and more jobs, and no more borrowing to fund subsidy, or maintianing subsidy with the borrowing it entails.

nairalanda1:
That N187 was made possible by massive printing of naira and borrowing.

Fact is, we did not remove subsidy in 2012, when we should have. The result was that government was forced to borrow to maintain the subsidy. And that created a massive debt, and also forced the Buhari government to raid the forex reserves...just to pay for the subsidy.

The result was the subsidy being removed to at least allow the government have some spending money, otherwise things would have really been bad.

Most African countries charge as high as NIgeria, most even higher. Only five african countries have some form of subsidy on fuel, and even those, (apart from Libya that can pay for subsides and refinery upkeep without breaking a sweat because they have a very small population)...maintain it at the expense of debt. If all African countries subsidsied fuel like we do, even the oil producers, they would have collapsed economically ages ago.

Choose your wickedness...removal of subsidy with harsh price increases but the chance of improved domestic refining and more jobs, and no more borrowing to fund subsidy, or maintianing subsidy with the borrowing it entails.

thesicilian:
Learn to call a spade a spade bro. Nobody is talking about subsidy. The problem is massive embezzlement of resources meant for infrastructural development and improvement of quality of life.

nairalanda1:
So competence means maintaining a subsidy by printing naira and borrowing more ?

Okay. I get it. Tinubu is bad and should be voted out even . But subsidy removal made economic sense since 1992

thesicilian:
Is there going to be an end

"Tinubu made living in Nigeria expensive. I will make Nigeria affordable again" - Alhaji Atiku Abubakar

Ofunaofu:
Stop spreading lies, falsehoods, and propaganda. It’s stale.

There’s no single justification for this wickedness.

Going from N187 to N1,400 in just three years is pure wickedness, a mindless price increase masquerading as economic reforms.

No matter how you want to spin this, Nigerians, especially the masses, need some cushioning. They need some form of subsidy or intervention to shield them from the ripple effects of fuel price increases.

You keep saying that the government now has more money to spend. Fine.

What exactly has been done with all this extra money that the government couldn’t do when it was paying subsidies?

Government exists, first and foremost, for the welfare of the people. But if the people are being subjected to this level of suffering and hardship, and all you can tell them is that there’s more money now and that governors now have more money, then honestly, what exactly is the point?

More money for government. More money for governors. More suffering for the people.

And somehow, we’re supposed to call that economic reform?

Please. The propaganda is stale.

Willie2015:
Competence means removing subsidy and protecting vulnerable people and uses the fiscal savings productively.

nairalanda1:
That N187 was made possible by massive printing of naira and borrowing.

Fact is, we did not remove subsidy in 2012, when we should have. The result was that government was forced to borrow to maintain the subsidy. And that created a massive debt, and also forced the Buhari government to raid the forex reserves...just to pay for the subsidy.

The result was the subsidy being removed to at least allow the government have some spending money, otherwise things would have really been bad.

Most African countries charge as high as NIgeria, most even higher. Only five african countries have some form of subsidy on fuel, and even those, (apart from Libya that can pay for subsides and refinery upkeep without breaking a sweat because they have a very small population)...maintain it at the expense of debt. If all African countries subsidsied fuel like we do, even the oil producers, they would have collapsed economically ages ago.

Choose your wickedness...removal of subsidy with harsh price increases but the chance of improved domestic refining and more jobs, and no more borrowing to fund subsidy, or maintianing subsidy with the borrowing it entails.

anonimi:
There will be an end when we get back our country from the balablu bulaba incompetent clown who fought and grabbed power, only to run cluelessly with it like a headless pig 🐖, causing stagflation to destroy Nigeria.

How do we work together to stop this disaster in Aso Rock?

cr7lomo:
Dangote go finish us all for this country...he is on a mission to use Nigerians to hit top 10 richest men in the world

thesicilian:
So Atiku is the chosen one?