Lagos, Nigeria – In a move that could ripple across Nigeria’s fuel market, Dangote Petroleum Refinery has increased its ex-depot petrol price from ₦825 to ₦880 per litre, the Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed Saturday.
Why the Price Jump?
- The ₦55/litre hike comes just days after Dangote announced nationwide fuel logistics expansion, including 4,000 new CNG-powered tankers for efficient distribution.
- The refinery claims the move will “improve fuel availability and affordability” while supporting Nigeria’s economy.
Mixed Reactions from Stakeholders
✔ IPMAN acknowledged the adjustment, notifying its members.
⚠ PETROAN (Petrol Retailers Association) warned this could create a “monopoly in disguise”, risking job losses in the downstream sector.
🔍 MEMAN (Major Energies Marketers) earlier demanded clarity on Dangote’s logistics plans.
What This Means for Lagos & Nigeria
Analysts say the refinery’s growing influence could:
✅ Stabilize supply & reduce import dependence.
❌ Squeeze smaller marketers if prices keep rising.
Voice of Lagos Bottomline:
Will this hike trickle down to pump prices? Stay tuned as we track how Lagosians are impacted. ⛽
🗨️ Your Take: Is Dangote’s expansion good for Nigeria or a threat to competition? Comment below!
