Dangote Refinery hikes petrol gantry price by N65, warns rising imports may force exports

Dangote Petroleum Refinery has increased the gantry price of petrol by N65 per litre, effective Saturday, August 29, 2026. The new pump-out price is N1,265 per litre, up from the previous N1,200.

The price change, contained in a circular cited by Petroleumprice.ng, also affects coastal supply. The refinery raised its coastal Premium Motor Spirit (PMS) price by N87,165 to N1,669,545 per metric tonne, from N1,582,380.

New pricing and loading terms

Both revised prices apply to PMS bought through gantry and coastal channels from August 29. Dangote said customers must return existing Automated Truck Loading (ATC) tickets for repricing. New volume contracts would be issued to allow loading to resume under the updated terms.

The increase comes with a warning. Dangote said imported PMS made up roughly 43% of petrol supplied in Nigeria during July, even though the plant has enough capacity to meet and surpass domestic demand.

Imports disrupt demand planning

The refinery said the continued issuance of petroleum product import licences has made it difficult to predict how much fuel would be needed locally. Holding large volumes of petrol without a clear picture of incoming imports had become commercially difficult because of rising storage and financing costs.

As a result, Dangote said it may begin channelling excess stock to regional and international markets, rather than holding inventory the domestic market may not absorb quickly.

The company sought to address concerns that increased exports could signal an inability to supply Nigeria. It said any surplus the local market could not take up immediately would be redirected abroad. This was a response to inventory pressures, not a capacity problem.

Appeal for policy support

Dangote said it has maintained adequate stock and reserved volumes for the Nigerian market since operations began, with considerable investment in storage, logistics and working capital. It called on the government and market regulators to improve transparency around petrol imports, enhance coordination, and adopt policies that actively support domestic refining.

According to the refinery, such steps would protect Nigeria's energy security, reduce pressure on foreign exchange reserves, and ensure local refining investments deliver full economic value.

Earlier, Dangote started direct petrol deliveries to fuel marketers in six states without charging transportation fees. The rollout covers Lagos, Ogun, Rivers, Kaduna, Delta and the Federal Capital Territory, Abuja. More states will be added as the programme expands.

For Nigerian consumers and businesses, the fresh increase means higher pump prices and transport costs in the coming days. The refinery's export plan, if it materialises, could support the naira by boosting non-oil export earnings, but that depends on how much surplus stock is eventually shipped abroad.