The Dangote Refinery has adjusted its petrol gantry price to N1,275 per liter, citing the sharp rise in global crude oil prices fueled by escalating tensions between the United States and Iran.
The N75 increase, representing a 5 percent jump from the previous N1,200 rate, comes as industry experts monitor the impact of U.S. President Donald Trump’s latest military posturing on international energy markets.
Despite the price hike, the President of the Dangote Group, Aliko Dangote, has assured Nigerians of a steady and sufficient fuel supply. Speaking during a recent plant tour, the billionaire emphasized that the refinery possesses the capacity to meet the demands of Nigeria and the wider African sub-region, regardless of global disruptions.
The price adjustment follows a brief period of stability in the domestic market. While the increase reflects current global volatility, the refinery’s commitment to “seamless supply” is expected to prevent a return to fuel queues, even as marketers begin adjusting their pump prices nationwide.