The Dangote Petroleum Refinery and Petrochemicals has increased its ex-depot (gantry) price of Premium Motor Spirit (PMS) from N1,175 to N1,245 per litre, marking a N70 rise amid mounting global geopolitical pressures.
The company disclosed the adjustment in a notice issued to fuel marketers on Friday night, attributing the upward review to escalating international tensions impacting energy markets.
In addition to the gantry price hike, the refinery also raised its coastal price from N1,512,648 per metric tonne to N1,606,518 per metric tonne. The revised pricing structure took effect from midnight on March 21, 2026.
According to the refinery, the increase reflects prevailing market conditions and external factors beyond its control. It emphasised that the global geopolitical climate has intensified, necessitating a recalibration of fuel pricing.
“Please be informed that due to the current global geo-political situation which has further escalated, the PMS gantry and coastal price has been reviewed and updated,” the notice read.
The company further clarified that the new rates apply to all pending or unloaded gantry and coastal volumes from the effective date.
It also provided guidance for customers operating under existing financial arrangements. Marketers with valid Bank Guarantees with Dangote Petroleum Refinery and Petrochemicals (DPRP) will continue loading under existing Authority to Collect (ATC) and Provisional Release Note (PRN), provided their credit balance can accommodate the price differential.
The refinery noted that debit notes reflecting the price adjustment will be issued to affected customers, with payment evidence for the differential required by Monday, March 23, 2026.
The latest increase is expected to ripple through Nigeria’s downstream petroleum sector, potentially triggering a fresh rise in pump prices nationwide, as marketers adjust to the higher landing cost.
