Dangote Petroleum Refinery has raised its ex-depot price for premium motor spirit (petrol) to N880 per litre, marking a N55 increase from the previous rate of N825. Abubakar Shettima, national president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed the increase in a statement to TheCable on Saturday.

This price adjustment follows the refinery’s recent announcement of a nationwide logistics initiative for petrol and diesel distribution, which includes the acquisition of 4,000 new compressed natural gas (CNG)-powered tankers. The refinery emphasized its commitment to enhancing fuel availability and affordability, aiming to support the Nigerian economy and improve the well-being of its citizens.

However, industry reactions have raised concerns about potential monopolistic practices. The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) cautioned that the Dangote refinery’s integrated approach could lead to significant job losses in the downstream sector. Similarly, the Major Energies Marketers Association of Nigeria (MEMAN) has called for clarity regarding the refinery’s ambitious logistics plan.

While analysts view the refinery’s actions as potentially transformative for consumers, they also caution that such developments may introduce new challenges for the downstream sector.