Naija don enter another round of fuel wahala as Dangote Refinery don increase petrol price for the fourth time for March alone. According to reports wey dey circulate, the refinery don hike gantry petrol price by N70 to N1,245 per liter on Friday, and this one don make many filling stations across the country follow suit with their own price increases.
For Abuja, MRS filling stations wey dey backed by Dangote Refinery don increase their pump price by N100 to N1,367 per liter on Saturday from N1,267. Other stations like Ranoil, Empire Energy, and AA Rano don also adjust their prices to N1,440, N1,430, and N1,370 respectively. This development don make transportation and other sectors of the economy suffer as Nigerians dey struggle to cope with the rising cost of living.
Human rights lawyer Deji Adeyanju don come out to question why supporters of Dangote Refinery dey silent now as fuel price don reach N1,450 for some areas. For him Facebook post, Adeyanju ask: “Fuel na 1450. Where be the influencers of Dangote wey dey insult me before?” This statement don spark reactions among Nigerians wey dey wonder why the refinery wey dem promise go reduce fuel prices dey instead increase am multiple times.
The Nigerian National Petroleum Company Limited (NNPCL) retail outlets still dey sell petrol at N1,261 per liter, but this one no dey help matter much because Dangote Refinery according to Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) February data, don supply 61 percent of Nigeria‘s domestic petrol consumption. This mean say majority of Nigerians go still pay the higher prices wey other filling stations dey charge.
Meanwhile, for international market, Dangote Refinery dey position itself as potential supplier of jet fuel to Europe. According to report by Kpler, the effective closure of Strait of Hormuz don cut off nearly 21 percent of global seaborne jet fuel supply, and Europe fit turn to Dangote Refinery for alternative supplies. The report show say Dangote exported about 89,000 barrels per day of jet fuel for 2025, and West Africa don become structurally long on refined products largely because of output from the Dangote refinery.
Kpler report explain say even if policy of first supplying Nigerian domestic market dey enacted, exports go still materialize especially as the refinery dey return from maintenance. However, analysts warn say supplies from other sources no go fit fully offset the shortfall wey Middle Eastern flows don create. The report add say exports from US Gulf Coast remain constrained by existing demand from Latin America, specification differences, and infrastructure limitations.
For Naija side, the domestic petrol price hike na ripple effect of global crude oil spike wey don reach above $110 per barrel as Iran–United States–Israel conflict dey affect global economies. As of Saturday, crude oil prices don increase to above $112 per barrel, and this one dey directly affect petrol prices for Nigeria.
The situation don make many Nigerians dey ask questions about the original promises wey dem make about Dangote Refinery. When dem dey build the refinery, many pipo believe say na solution to Nigeria’s fuel problems, but now the refinery dey increase prices multiple times for one month. Some analysts dey argue say the refinery dey operate as business wey need make profit, while others dey complain say the frequent price increases dey too harsh for ordinary Nigerians.
As the situation dey unfold, market watchers dey monitor how government go respond to the continuous price increases. Some dey suggest say government need intervene to protect consumers, while others dey argue say market forces must dey allowed to work. The coming weeks go show how Nigerians go adapt to these new prices and wetin implications go be for the economy.
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