Dangote Refinery has raised the price of petrol to N865 per liter, marking a N50 increase from its previous rate of N815. This change follows the suspension of the Naira-for-crude deal with the federal government.
Oil marketers, including MRS, have already begun lifting petrol from the refinery, which boasts a production capacity of 650,000 barrels per day. Despite a recent dip in crude oil prices to $59 per barrel, the costs of refining remain high, largely due to the rising expenses involved in importing crude oil in dollars.
Earlier in 2025, Dangote had reduced its petrol prices three times, but the current hike is attributed to the ongoing challenges of high refining costs that continue to offset the benefits of falling global oil prices.
