Dangote Refinery has assured Nigerians that its partners will sell petrol at ₦970 per litre nationwide, despite a recent increase in the ex-depot price.
Refinery spokesperson Anthony Chiejina attributed the adjustment to a significant rise in global crude oil prices.
In a statement on Sunday, Chiejina explained, “We have increased our ex-depot price by 5%, from ₦899.50 to ₦950 per litre. However, this is significantly lower than the 15% rise in global crude oil prices, with Brent Crude increasing from $70 to $82 in just days, alongside a $3 premium for Nigerian crude in international markets.”
Despite the adjustment, Dangote Refinery has maintained the Single-Point Mooring (SPM) ex-vessel price at ₦895 per litre. Chiejina reassured Nigerians that partners such as Ardova, Heyden, and MRS Holdings will continue to retail petrol nationwide at a uniform price of ₦970 per litre.
He stated, “We have absorbed higher logistics costs to ensure a consistent price across all 36 states and the Federal Capital Territory (FCT). If the full increase in crude oil prices were passed on, PMS would retail between ₦1,150 and ₦1,200 per litre in some areas.”
To promote transparency and prevent exploitation, Chiejina announced that Dangote Refinery would begin publishing its ex-depot, ex-vessel, and pump prices weekly.