The Dangote Petroleum Refinery has increased the price of Premium Motor Spirit (PMS), popularly known as petrol, by 6.7 per cent to N1,350 per litre, from N1,265, effective September 12, 2026.
The refinery also raised its coastal price to N1,783,530, up from N1,669,543. The N113,987 increase represents a 6.8 per cent adjustment.
In a memo to its customers, the refinery announced the revised gantry and coastal prices, stating that the new rates took effect on Saturday, September 12.
Dangote also directed customers with existing loading arrangements to return their Automated Truck Certificates (ATCs) for repricing.
“You are advised to return all ATCs for repricing and a new volume contract will be issued for immediate loading resumption,” the refinery said.
The latest price adjustment is expected to raise the cost of petrol for marketers purchasing directly from the refinery and could put additional pressure on retail pump prices.
The increase comes amid renewed volatility in the international crude oil market, with Brent crude recently trading above $100 per barrel.
Nigeria’s downstream petroleum sector operates under deregulation, meaning petrol prices are largely influenced by crude oil prices, refining costs, foreign exchange rates, transportation, distribution expenses and market forces.
As a result, marketers are expected to review their purchase and selling prices following the Dangote adjustment. However, the extent of any increase at filling stations will depend on factors including logistics costs, competition and prevailing market conditions.
The Dangote refinery has become a major supplier of locally refined petrol as Nigeria works to reduce its reliance on imported petroleum products.
The latest increase could therefore have broader implications for households and businesses if marketers transfer the higher acquisition cost to consumers.
Marketers are now expected to adjust their procurement and retail prices in response to the new Dangote petrol rates.
