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Why Petrol Price May Increase To N1,000 Per Litre – Dangote Refinery
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The management of the Dangote Petroleum Refinery has warned that Nigeria’s heavy reliance on coastal logistics to distribute petroleum products may push the pump price of petrol close to ₦1,000 per litre.
In a statement issued on Thursday, the refinery explained that while marketers are free to choose how they evacuate products, depending on coastal delivery could lead to avoidable expenses with serious implications for fuel pricing, consumer welfare, and economic stability.
“In our opinion, coastal logistics can add approximately N75 per litre to the cost of petrol, which, if passed on to consumers, would push the pump price of PMS close to ₦1,000 per litre,” the company stated.
The company estimated that with Nigeria’s average daily consumption of about 50 million litres of petrol and 14 million litres of diesel, continued dependence on coastal logistics could result in an additional annual cost of ₦1.752 trillion.
“This cost would ultimately be passed on to either producers or consumers,” the statement noted.
Highlighting its own infrastructure, Dangote said its refinery includes a world-class gantry facility with 91 loading bays, capable of dispatching up to 2,900 tankers daily on a 24-hour basis.
“Operating round-the-clock, the facility can evacuate over 50 million litres of PMS and 14 million litres of diesel daily,” it said.
The company stressed that gantry loading remains the most economically viable and operationally efficient evacuation method.
It added, “Direct gantry evacuation eliminates port charges, maritime levies, and vessel-related costs that add no value to end users. It helps reduce cost, improves distribution efficiency, and supports price stability.”
Dangote also reiterated the need for coordinated investments in pipeline infrastructure, warning that inefficient delivery mechanisms could derail the country’s push toward energy affordability and market stability.
Responding to recent claims that it imports finished petroleum products, the company dismissed such allegations as misleading.
It stated, “We do not import finished products. Our residue fluid catalytic cracking unit is currently undergoing maintenance, and we only import intermediate feedstock in line with global industry practice.
“We challenge anyone with credible evidence of finished-product imports to present it to the relevant regulatory authorities,” it added, suggesting such claims are driven by vested interests.”
Since the refinery began operations, it said, prices of diesel and petrol have dropped significantly.
“Diesel has fallen from about ₦1,700 per litre to ₦1,100, and currently trades between ₦980 and ₦990. Similarly, PMS prices have declined from ₦1,250 to between ₦839 and ₦900 per litre,” the company said.
The refinery also credited increased domestic fuel supply for easing foreign exchange pressure and boosting market stability, noting that the naira currently trades at around ₦1,385 to the dollar.
The Chairman of the Senate Committee on Inter-Parliamentary Affairs, Senator Aliyu Wadada has promised to revive the committee’s activities after acknowledging concerns over its prolonged inactivity.
Wadada spoke on Thursday at the end of the committee’s meeting in Abuja.
Specifically, the chairman admitted that the committee had been underutilised, noting that it had met only once in the last three years.
He, however, said issues responsible for the situation had been identified during a closed-door session and would be addressed.
“Of course I feel concerned about it, but when we got into the details in a closed-door meeting, we got to know where the problems are, and they will all be taken care of. The committee will be as active as it should always be,” he said.
Commenting further, the chairman said the committee would focus on its core mandate of promoting and strengthening legislative relations between Nigeria’s National Assembly and parliamentary bodies across the world.
According to him, the committee will deepen engagement with regional and international legislative institutions, including the ECOWAS Parliament, the Pan-African Parliament, the Inter-Parliamentary Union (IPU), and other parliamentary organisations.
He disclosed that a new work plan had already been developed to guide the committee’s activities.
He added: “The direction is basically around the responsibilities of the committee, which is to promote and deepen legislative relationship within Nigeria and with other legislative bodies around the world”.
The chairman added that the committee’s first major activity would be a courtesy visit to the Speaker of the ECOWAS Parliament in Nigeria as part of efforts to strengthen inter-parliamentary cooperation.
SINL NIgeria Online reports that Senator Wadada assured that the public would be kept informed of the committee’s activities as the new work plan is implemented.
The Minister of Defence, Christopher Musa, has revealed that the minimum monthly salary of Nigerian soldiers has increased to N100,000 after the Federal Government reviewed their welfare package.
Musa made the disclosure during an interview with News Central ahead of his appearance on the NC Exclusive programme.
He said the adjustment was part of efforts by the government to improve the living conditions of military personnel.
Executive Branch
The former Chief of Defence Staff, however, said the country’s defence sector still requires more funding despite the improvement in soldiers’ earnings and welfare.
He stated that the current defence budget remains inadequate, adding that more resources are needed to effectively support the armed forces and their operations.
Musa explained that soldiers who previously earned about N49,000 monthly now receive at least N100,000 following the salary review carried out by the government.
The minister also called for tougher punishment for kidnappers, saying stronger measures are needed to reduce the increasing cases of abduction across Nigeria.
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Senator Wadada promises to deepen legislative ties, stop inactivity
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