The Dangote Refinery has once more raised the value of petrol throughout Nigeria.
The most recent enhance comes amid rising world crude oil costs and rising stress within the Center East.
Checks on Tuesday by POLITICS NIGERIA confirmed that the refinery adjusted its gantry value of Premium Motor Spirit to N1,275 per litre.
The brand new value is up from N1,200 per litre. This represents a rise of N75, about 5 %.
The event comes after days of relative stability in native gasoline costs. Market watchers say the adjustment displays strain from the worldwide oil market. Crude oil costs have remained unstable in latest days.
The rise can be linked to recent geopolitical considerations. The USA President, Donald Trump, lately issued sturdy warnings over a attainable escalation of battle involving Iran. The scenario has raised fears of provide disruptions within the world oil market.
Regardless of the value hike, the refinery has moved to calm considerations about availability. Talking throughout a tour of the ability, Aliko Dangote assured Nigerians and different African international locations of regular provide.
“What I can do is guarantee Nigerians and most of West Africa, Central Africa, and East Africa that now we have the capability to provide them,” he mentioned.
Business analysts say such assurances might assist cut back panic shopping for. Nevertheless, they word that value adjustments are prone to proceed if world oil costs stay unstable.
On the time of submitting this report, crude benchmarks remained excessive. West Texas Intermediate stood at about $110 per barrel, whereas Brent crude traded round $105 per barrel.
The refinery’s newest transfer comes weeks after a value discount introduced on March 27, 2026. On the time, the drop was linked to a decline in world oil costs.