The landing cost of imported Premium Motor Spirit (petrol) is now lower than the gantry price of the commodity from the Dangote Petroleum Refinery, following the refinery’s decision to hike prices.
Data from the Major Energies Marketers Association of Nigeria show that the landing cost of imported petrol was ₦728.88 per litre as of last week.
However, on Monday night, the Dangote refinery announced an increase in its gantry price of petrol from ₦699 to ₦799 per litre. The new price increase means that Dangote’s gantry price is about ₦70 higher than the landing cost of imported PMS.
As a result of the new price rise, the refinery said MRS filling stations would now sell petrol at ₦839 per litre. Checks on Tuesday confirmed that MRS filling stations had raised their prices from ₦739 on Monday to ₦839, following the announcement by the 650,000 barrels-per-day Lekki refinery.
In a statement Monday night, the refinery said it realigned petrol prices modestly because the festive period was over. The company explained that the reduction was at a sustainable level, to support long-term market stability and affordability.
The refinery reaffirmed its commitment to market stability and an uninterrupted nationwide supply of petrol.
It recalled that during the recent festive period, it implemented a deliberate and temporary price support intervention to cushion Nigerians at a time of heightened household spending.
According to the statement, this marked the second consecutive festive season in which the refinery absorbed high costs in the national interest, including logistics support in 2024 and a price reduction in 2025 to promote affordability and market calm.
“Despite the price reduction, many filling stations failed to reflect the new price at the pump, thereby denying Nigerians the benefits of the reduction. With the festive period concluded, PMS prices have been modestly realigned to sustainable levels to support long-term market stability and affordability. Under the current alignment, the PMS gantry price is N799 per litre, while MRS retail outlets are selling at N839 per litre,” the statement declared.
The Chief Executive Officer of the Dangote refinery, David Bird, stated that the refinery continues to supply the domestic market with approximately 50 million litres of PMS daily, with nationwide evacuation and distribution operating normally.
He noted that the refinery’s design flexibility allows it to process a wide range of crude and intermediate feedstocks, enabling continued PMS supply during planned maintenance activities. According to him, this capability ensures that the domestic supply remains stable and uninterrupted.
“As a domestic producer, Dangote Petroleum Refinery continues to shield the Nigerian market from import-related volatility and external supply disruptions, while remaining a stabilising force in the downstream petroleum sector. Dangote Petroleum Refinery remains focused on delivering energy security, price stability, and long-term value for Nigerians,” the statement concluded.
The PUNCH
