Retail prices of Premium Motor Spirit (PMS), commonly known as petrol, have increased across several filling stations in Lagos and Edo States following a new price adjustment by Dangote Petroleum Refinery.
The refinery raised its ex-gantry price of petrol from ₦699 per litre to ₦799 per litre, prompting marketers to adjust pump prices accordingly. As a result, retail prices now range between ₦839 and ₦900 per litre, depending on location.
In Edo State, several filling stations raised their pump prices to as high as ₦900 per litre, up from previous prices that ranged between ₦739 and ₦795 per litre. Checks around Benin City and surrounding areas showed new price bands between ₦850 and ₦900 per litre.
Dangote Refinery said the earlier lower prices were part of a temporary price support intervention introduced during the festive season to ease the burden of increased household spending.
“This marked the second consecutive festive season in which the Refinery absorbed significant costs in the national interest,” the company said, noting that some marketers did not fully reflect the reduction at the pump.
With the holiday period over, the refinery said prices have now been realigned to more sustainable levels to ensure long-term market stability and continued supply.
Dangote also reaffirmed its commitment to maintaining stable nationwide supply, revealing that the refinery currently produces about 50 million litres of petrol daily for the domestic market.
Chief Executive Officer of Dangote Petroleum Refinery, David Bird, said the facility’s design allows it to process a wide range of crude types, ensuring consistent petrol production even during maintenance periods.
“As a domestic producer, Dangote Petroleum Refinery continues to shield the Nigerian market from import-related volatility and external supply disruptions,” the company stated, adding that it remains focused on energy security and price stability in Nigeria’s downstream sector.
