KEY POINTS
- Dangote Refinery has increased petrol’s ex-depot price by N20, from N1,165 to N1,185 per litre.
- The new price remains below the N1,218 estimated import landing cost and the N1,200 rates at several Lagos depots.
- The move comes amid growing competition in the domestic fuel market and renewed questions over how depot-price changes affect pump prices.
The Dangote Petroleum Refinery has increased the ex-depot price of petrol by N20 per litre, raising its latest gantry price from N1,165 to N1,185.
The new price took effect from midnight on August 21, 2026, barely two weeks after the refinery announced a N50 reduction in its petrol price.
The latest adjustment reflects the rapidly changing dynamics of Nigeria’s downstream petroleum market, where domestic refineries and independent depots are increasingly competing for market share.
Despite the increase, Dangote’s latest price remains below the prevailing rates at several major independent depots in Lagos and below the estimated cost of importing petrol into Nigeria.
Dangote remains cheaper than several depots
At N1,185 per litre, Dangote’s petrol is still cheaper than the N1,200 per litre being quoted by Integrated Oil and Gas, African Terminals and Nipco.
Pinnacle Oil and Gas, meanwhile, is offering petrol at about N1,190 per litre.
The relatively narrow price gap highlights the growing competition in the Lagos bulk petroleum market, where suppliers have been adjusting their prices in response to changing market conditions and the increasing availability of locally refined products.
Despite the N20 increase, Dangote’s petrol remains significantly below the estimated cost of importing the product.
The Major Energy Marketers Association of Nigeria estimates petrol landing cost at approximately N1,218 per litre. This means Dangote’s new gantry price of N1,185 is about N33 below the import-related benchmark.
The development could strengthen the refinery’s competitive position as marketers continue to compare locally refined petrol with imported alternatives.
