Dangote Petroleum Refinery has increased its ex-depot price of petrol to N850 per litre, a N30 upward review from the previous price of N820 per litre.
Gatekeepers News reports that the development was confirmed by Abubakar Garima, national president of the Independent Petroleum Marketers Association of Nigeria (IPMAN).
“The new ex-gantry price of petrol at the refinery is N850 per litre,” Garima told TheCable on Friday.
The refinery has also commenced petrol sales to its partners after a one-week hiatus, during which it had asked marketers to suspend all payments for petrol loading at its gantry.
This price adjustment comes days after the Nigerian National Petroleum Company (NNPC) Limited reduced its retail price to N875 per litre in Lagos and N900 in Abuja. The Dangote refinery’s price increase is likely to impact the cost of accessing petrol for Nigerians and businesses.
The refinery had announced the suspension of its strategic partner discounted pricing scheme on July 18, citing complaints that some partners were selling their authority to collect (ATC) rights to marketers outside the scheme. This allowed them to lift products below the prevailing ex-gantry price.
