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By Adewale Sanyaolu
Oil marketers, yesterday morning, responded to the hike in the price of Premium Motor Spirit (PMS), otherwise known as petrol, by the Dangote Refinery from N739 to N835, representing an increase of N96 per litre.
The company in a statement, late Monday night, announced a new petrol gantry price of N799 per litre, while MRS retail outlets are to sell at N839 per litre.
As early as 7 a.m. Tuesday morning, most major and independent marketers, in a swift response to the price hike by Dangote Refinery, had changed their retail prices from the earlier lower rates they were offering to prices ranging from N839 to N900 per litre.
At most NNPC retail outlets were selling at N840 per litre, Ardova Petroleum at N839 per litre, and some independents at N900 per litre.
The refinery reaffirmed its commitment to market stability and uninterrupted nationwide supply of PMS.
It noted that during the recent festive period, the refinery implemented a deliberate and temporary price-support intervention to cushion Nigerians at a time of heightened household spending.
This, it said, marked the second consecutive festive season in which the refinery absorbed significant costs in the national interest, including logistics support in 2024 and a price reduction in 2025 to promote affordability and market calm.
However, despite the price reduction, the refinery lamented that many filling stations failed to reflect the new price at the pump, thereby denying Nigerians the benefits of the reduction.
The Chief Executive Officer of Dangote Petroleum Refinery, David Bird, stated that the refinery continues to supply the domestic market with approximately 50 million litres of PMS daily, with nationwide evacuation and distribution operating normally.
He noted that the refinery’s design flexibility allows it to process a wide range of crude and intermediate feedstocks, enabling continued PMS supply during planned maintenance activities. According to him, this capability ensures that domestic supply remains stable and uninterrupted.
“As a domestic producer, Dangote Petroleum Refinery continues to shield the Nigerian market from import-related volatility and external supply disruptions, while remaining a stabilising force in the downstream petroleum sector.
“Dangote Petroleum Refinery remains focused on delivering energy security, price stability, and long-term value for Nigerians.”
Recall that last December, Dangote Refinery commenced nationwide sales of petrol at N739 per litre across all MRS Oil Nigeria Plc filling stations. The move, according to the Refinery represents a significant milestone in the refinery’s mission to deliver affordable fuel to Nigerians and stabilise the downstream petroleum market.
“With over 2,000 MRS stations nationwide, the new pricing is expected to be implemented across all outlets, ensuring that the benefits of this reduction reach consumers nationwide. In its statement, the refinery commended marketers who have embraced the new pricing regime and urged others to follow suit in the interest of national economic recovery.
We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump. We call on others to join this effort as a show of support for Nigeria’s economic recovery,” the refinery stated.
