Filling stations adjust pumps as Dangote hikes ex-depot petrol price

• Retail price hits N925/litre

By Adewale Sanyaolu

Filling stations across the Lagos metropolis yesterday morning responded to the hike in the ex-depot price of Premium Motor Spirit (PMS), otherwise called petrol, announced by Dangote Refinery late Friday.

The Dangote Refinery on Friday adjusted its ex-depot petrol price from N825 per litre to N880, representing an increase of N55 per litre.

In a swift reaction to the increase, members of the Major Energy Marketers Association of Nigeria (MEMAN), Independent Marketers Association of Nigeria (IPMAN), NNPC Retail outlets and Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) have all responded by adjusting their meters.

Prior to the hike, NNPCL retail outlets were selling at N870 per litre but by yesterday morning, prices had been adjusted to N910 per litre and N925 per litre respectively.

Other marketers, including Dangote’s partners, namely, MRS, Ardova and Heyden, followed the same trend.

However, further tracking by Sunday Sun on the oil trading platform, petroleumprice.ng revealed that even at N880 per litre ex-depot price, Dangote was still the cheapest.

Other petrol ex-depot prices as published by the trading platform showed that Aiteo is selling at N893 per litre, Ever at N920 per litre, Bovas at N910 per litre, Rainoil at N920 per litre and WOSBAB also at N920 per litre.

The President of the Dangote Group, Aliko Dangote, last Thursday said his 650,000-barrel capacity refinery was “increasingly” relying on the United States for crude oil.

According to findings, the refinery is projected to import a total of 17.65 million barrels of crude oil between April and July 2025, beginning with about 3.65 million barrels already delivered in the past two months.

This is in addition to the ongoing allocations under the Federal Government’s naira-for-crude policy.

Dangote informed the Technical Committee of the One-Stop Shop for the sale of crude and refined products in naira initiative that the refinery was still battling crude shortages, which had led it to resort to imports from the United States.