The ex-depot price of Premium Motor Spirit, generally known as gasoline, has been raised by ₦75 by the Dangote Petroleum Refinery, making it around ₦1,350 per litre instead of ₦1,275.
According to Naija News, the most recent modification comes after the refinery raised the price to ₦1,275 per litre in April 2026 as a result of shifting conditions in the world oil market.
The latest increase coincides with the ongoing surge in petrol prices in Nigeria, where some filling stations are already charging about ₦1,400 per litre.
Fuel costs have been steadily rising due to supply issues, foreign exchange pressure, and worldwide crude oil prices, all of which have continued to impact pricing in the deregulated downstream industry.
A top official from Dangote Refinery and the pricing website Petroleumprice.ng confirmed the most recent change on Wednesday.
Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, has ruled out the reinstatement of gasoline subsidies, stating that the Federal Government will not reinstate a policy that it feels caused economic distortions.
During a meeting between President Bola Tinubu and international investors on Tuesday in Paris, France, Oyedele made this statement.
The minister insisted that the administration thinks the market should be allowed to regulate itself and that the government would not impose price controls on gasoline.
“We will not introduce price control because we believe in the market, and we will not bring back fuel subsidies because they create distortions for the economy,” he declared. As the globe strives to diversify energy supplies and invest in new markets, the situation in Iran offers us new options.
