Dangote Refinery Petrol Price Hike 2026, What the N100 Increase Means for Nigerians
The Dangote refinery petrol price hike 2026 has officially taken effect, reshaping Nigeria’s downstream petroleum market and ending the brief festive relief enjoyed by consumers nationwide. The 650,000 barrel per day Lekki based facility announced a N100 increase in the gantry price of Premium Motor Spirit, pushing the ex depot rate from N699 per litre to N799 per litre. The adjustment marks a return to what the refinery describes as market driven and sustainable pricing.
The refinery explained that the earlier reduction was a temporary intervention introduced during the Christmas and New Year period to ease household spending pressures. According to management, the price support came at a heavy financial cost, with losses reportedly exceeding N60 billion due to logistics, financing, and operational expenses. With those costs no longer absorbable, the company said a price correction became unavoidable.
For oil marketers, the price change created immediate operational challenges. Several distributors who had already made payments at the previous rate found their loading approvals suspended. At the Lekki gantry, marketers were instructed to either pay an additional N100 per litre to complete their orders or lift a reduced volume of petrol equivalent to the amount already paid under the new N799 pricing structure.
The shift at the refinery level quickly filtered through to retail outlets. In Lagos and Abuja, pump prices rose within hours. MRS filling stations, the refinery’s main retail partner, adjusted their pump price to N839 per litre from N739. Other independent marketers recorded even sharper increases, with some outlets in the Federal Capital Territory selling petrol for as high as N910 per litre, citing transportation costs and financing pressures.
Dangote Petroleum Refinery Chief Executive Officer David Bird assured Nigerians that supply remains stable despite the price adjustment. He disclosed that the refinery is delivering roughly 50 million litres of petrol daily into the domestic market. Bird added that the plant’s flexible configuration allows consistent output even as maintenance continues on the Residual Fluid Catalytic Cracker unit, supported by the processing of lighter crude blends.
The latest price increase highlights the volatility of Nigeria’s deregulated fuel market. Although the Dangote Refinery continues to serve as a buffer against extreme international price swings and import dependency, it still operates within the realities of crude sourcing costs, inflation, and local distribution expenses.
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The refinery also criticized certain retailers for failing to reflect the earlier festive price reduction at the pump, arguing that such practices prevented Nigerians from benefiting fully from the intervention. By restoring the gantry price to N799 per litre, the company says it aims to promote transparency, market stability, and the long term sustainability of its multi billion dollar investment.