Fuel Price May Rise to N1,400 Per Litre — Dangote

Dangote Petroleum Refining Company
Dangote Refinery, the world’s largest single-train refinery, has cautioned that petrol prices could surge to as much as N1,400 per litre if Nigeria’s energy sector fails to fully embrace local fuel production.
The refinery reaffirmed its capacity to meet Nigeria’s fuel needs despite the nation’s continued dependence on imported petroleum products.
This warning was issued on Monday when officials of the Dangote Petroleum Refinery dismissed claims that the facility was shutting down for maintenance, describing the reports as false, misleading, and aimed at justifying another increase in pump prices.
According to the refinery, recent price trends underscore a troubling reality. It stated that without the Dangote Petroleum Refinery in operation, fuel importers would continue unchecked, with petrol prices potentially climbing to as high as N1,400 per litre in a post-subsidy regime.
“The refinery’s operations have therefore played a critical role in stabilising the downstream petroleum market,” the company said.
The refinery further maintained that its production activities remain continuous, steady, and uninterrupted. It disclosed that, depending on market demand, it is currently capable of producing between 40 million and 50 million litres of Premium Motor Spirit (PMS) daily.
It revealed that on January 4, the refinery produced 50 million litres of PMS and evacuated 48 million litres through its gantry. Current stock levels, it added, are sufficient to cover more than 20 days of national consumption, effectively dispelling concerns over supply shortages.
The company also stated that from December 16, 2025, to date, it has consistently loaded between 31 million and 48 million litres of PMS daily from its gantry, in line with prevailing market demand. These figures, it noted, are verifiable through depot loading records maintained by the Nigerian Midstream and Downstream Petroleum Regulatory Authority as part of its regulatory oversight.
Role of Dangote Refinery in stabilising fuel prices
In May 2023, the Federal Government ended Nigeria’s fuel subsidy regime, bringing an end to decades of price support that had kept petrol prices artificially low.
The removal of the subsidy led to sharp increases in fuel prices as pump prices adjusted to market realities, driven by global costs and the burden of fuel imports.
Since then, the Dangote Petroleum Refinery, Africa’s largest, has played a stabilising role in the downstream sector by securing large monthly petrol supplies and working towards eliminating fuel imports, thereby improving availability and reducing price volatility.
Fuel prices in Nigeria, which had climbed as high as N1,200 per litre, have dropped to as low as N699 since 2023, largely due to the refinery’s operations.
Despite these gains, the refinery continues to face challenges, including import-related issues and crude oil supply bottlenecks, which have limited the extent of price relief. Discussions also persist around market regulation and competition in the sector. (Business Insider Africa, headline adjusted)