Author: Gist Correspondent

Dangote Petroleum Refinery has announced an upward review of the ex-depot price of Premium Motor Spirit (PMS), increasing the gantry price from N699 to N799 per litre.

The company explained that the adjustment followed a period in which it absorbed substantial costs in the national interest, including a price reduction aimed at improving affordability and ensuring stability in the downstream petroleum market.

According to the Refinery, the new pricing structure is intended to support long-term sustainability, affordability, and market stability, amid prevailing economic and operational realities in the sector.

It noted that despite the earlier reduction in ex-depot prices, many filling stations failed to pass on the benefits to consumers, thereby undermining the objective of the intervention.

Speaking on the development, the Chief Executive Officer of Dangote Petroleum Refinery, Mr. David Bird, disclosed that the facility continues to supply the domestic market with approximately 50 million litres of PMS daily, stressing that nationwide evacuation and distribution of products remain seamless.

Bird also assured Nigerians that the refinery’s operational flexibility enables it to process a wide range of crude oil and intermediate feedstocks, guaranteeing uninterrupted PMS supply even during planned maintenance activities.

Reaffirming its role as a domestic producer, Dangote Refinery said it remains committed to protecting Nigeria from import-related price volatility and external supply disruptions, while continuing to serve as a stabilising force in the downstream petroleum sector.