Dangote Refinery Raises Petrol Price to ₦1,245/Litre Amid Geopolitical Strains

Dangote Petroleum Refinery has set its ex-depot price for Premium Motor Spirit at ₦1,245 per litre, effective midnight on 21 March 2026. The coastal price was also increased to reflect current market conditions. The extra ₦70 per litre aligns with rising global tensions that have driven up crude oil and freight costs. The refinery stated the revision covers all gantry and coastal volumes. Marketers with valid bank guarantees can still lift products under previous arrangements, provided the guarantee balance covers the price difference. The company will issue debit notes to recover the cost differential, and payment evidence is due by 23 March. The adjustment is expected to ripple through the downstream sector, pushing pump prices higher as marketers pass on the new rates.

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