DANGOTE RESUMES NAIRA PETROL SALES, HIKES PRICE BY N140

Dangote Petroleum Refinery has resumed sales of Premium Motor Spirit (PMS) in naira, announcing a price increase of N140 per litre amid fluctuating crude oil costs and operational adjustments.

The move comes after a brief suspension of naira transactions, with the refinery citing the need to align pricing with current market realities, including international crude benchmarks and foreign exchange dynamics.

Industry sources indicate the new price reflects higher production costs and the refinery’s strategy to maintain sustainable operations while meeting domestic demand. Dangote Refinery, with a capacity of 650,000 barrels per day, continues to play a pivotal role in reducing Nigeria’s reliance on imported fuel.

The price hike is expected to impact pump prices across filling stations, potentially triggering adjustments by major marketers. Consumers have expressed concerns over the rising cost of living, as transportation and goods prices may rise further.

Stakeholders urge the government and regulators to monitor the market closely to prevent exploitation while supporting local refining capacity. Dangote Refinery reaffirmed its commitment to supplying quality products and contributing to Nigeria’s energy security.