Dangote Petroleum Refinery has increased the ex-gantry price of Premium Motor Spirit (PMS), commonly known as petrol, by ₦100 to N1,175 per litre, in a fresh adjustment that could affect pump prices across Nigeria.
Gatekeepers News reports that according to industry sources, the new price represents an increase from the previous rate of N1,075 per litre, which had been introduced earlier in the week.
The development was confirmed by Abubakar Garima, national president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), who said the revised gantry price had already been communicated to fuel marketers lifting products from the refinery.
Ex-gantry price refers to the amount marketers pay when loading petrol directly from the refinery depot before adding transportation costs and retailer margins, meaning the adjustment could push pump prices higher at filling stations nationwide.
Reports indicate the refinery has adjusted its petrol pricing several times in recent weeks as the downstream petroleum market responds to changes in crude oil prices and supply conditions.
Analysts say fluctuations in global crude oil prices—particularly the rise of Brent crude toward the $100 per barrel mark—have increased refining costs, which often translate into higher domestic fuel prices.
Dangote refinery, located in the Lekki Free Trade Zone in Lagos, is Africa’s largest oil refinery with a capacity of about 650,000 barrels per day, and is expected to significantly influence petrol pricing and supply in Nigeria’s downstream sector.
The latest adjustment comes as Nigeria continues to rely more on locally refined petroleum products, following efforts by regulators to prioritise domestic refining and reduce dependence on imports.
