Nigeria TV Info 

Petrol May Hit ₦1,000/Litre as Dangote Hikes Price

Lagos, Nigeria — Retail petrol prices across Nigeria may soon surge to around ₦980 to over ₦1,000 per litre, industry sources say, following a fresh price increase by Dangote Petroleum Refinery that has pushed up the gantry cost of Premium Motor Spirit (PMS).

The development, confirmed by the Independent Petroleum Marketers Association of Nigeria (IPMAN), comes amid rising global oil prices, logistics costs, and exchange rate pressures that are translating into higher domestic fuel costs. Officials state petrol stations in some areas could soon list pump prices above the ₦1,000 mark, depending on location and market conditions.

Dangote’s recent pricing adjustment has sent ripples through the downstream sector, prompting independent marketers to revise their retail fuel tariffs nationwide. The IPMAN National Publicity Secretary, Chinedu Ukadike, warned that, with current market dynamics, petrol could reach these unprecedented levels if global crude oil prices remain firm or climb further.

Analysts say that while Nigeria’s large domestic refining capacity — led by Dangote — was expected to stabilise fuel prices, external shocks such as crude price volatility and foreign exchange fluctuations continue to exert upward pressure on pump prices.

Motorists and transport unions have expressed concern over the looming price surge, saying it could deepen the existing cost‑of‑living crisis by driving up transportation costs and inflationary pressures across key sectors. Retailers also warn that weaker naira and high logistics expenses could add further to the fuel cost burden on consumers.