Na serious gist we dey yarn today as Dangote Petroleum Refinery don adjust Premium Motor Spirit price nine times for first quarter of 2026. The refinery wey dey operate at full capacity of 650,000 barrels per day don dey face serious pressure from geopolitical wahala between United States and Iran.
Petroleum Price Nigeria show say the refinery increase petrol price six times and reduce am three times. The whole matter dey revolve around crude oil movement, geopolitical disruption, and domestic competition wey dey hot.
For January, petrol price jump from average N699 per litre go N799. This na 14 percent increase wey come because crude oil dey firm up and global supply dey tight. International market no dey smile at all.
But by February 10, price come drop to N774 per litre from N799. This one na strategic adjustment wey Dangote refinery make. Dem shift from lifting bonuses to direct gantry price cuts to maintain market share. Brent crude dey around $70 range that time.
March come with plenty drama. Early March, petrol price rise again go N874 per litre as geopolitical tension between United States and Iran escalate. E rise again reach N995 per litre as replacement costs and import parity pressures increase. Crude oil don climb enter $90 range.
March 9, Dangote refinery increase petrol price to N1,175 per litre after Brent oil cross $100 per barrel. This one na because supply dey disrupt and tension dey around key oil routes like Strait of Hormuz.
Price come fall to N1,075 per litre – na second decline after war tension. But by March 13, price bounce back to N1,175 as crude regain strength around $100 range. Geopolitical uncertainty still dey persist.
March 21, Dangote refinery petrol price rise small reach N1,275 per litre. This na highest rise for the quarter. Crude rally above $110 per barrel cause am as supply risks increase and Gulf tensions dey high.
Price come ease again on March 26, settle at N1,200 per litre wey be current price. This na final adjustment wey reflect market correction and competitive depot pricing to sustain product offtake.
Analysts say the pattern show say pricing model dey anchor on crude oil volatility, crude supply glitches, and competitive downstream positioning. Petroleum Price Nigeria note for report say “The refinery is not just reacting, it is actively shaping Nigeria’s deregulated petrol pricing framework, where speed, scale, and pricing agility define market leadership.”
The report talk say with crude oil markets still volatile and geopolitical tensions unresolved, frequent petrol price adjustments go continue. Gantry prices go dey mirror global oil trends and domestic supply-demand dynamics.
Meanwhile, Dangote refinery owner Aliko Dangote talk say the refinery don increase exports of gasoline and urea to African countries wey dey face supply disruptions caused by Iran war. Dangote talk say the refinery don help cushion the full impact of the crisis both for Nigeria and across Africa.
“What I can do is assure Nigerians . West Africa, Central Africa, and East Africa, we have the capacity to supply them,” Dangote talk during tour of the refinery for edge of commercial capital Lagos.
Im talk say the facility don ship about 17 cargoes of gasoline to other African nations and exports of urea fertiliser don also rise recently as buyers dey look for alternative sources of supply.
“In the last couple of days, we’ve been looking to mostly African countries, which we were not doing before,” im talk, referring to fertiliser shipments, without giving figures.
The refinery get capacity to produce up to 3 million metric tons of urea annually, most of which dem dey typically export to United States and South America, officials talk.
Fuel prices for oil-producing Nigeria don reach record-high levels, industry figures show, as maximum output from Dangote refinery no fit offset the impact of high crude prices.
Dangote talk say the refinery hope to get more crude cargoes priced in local currency to help curb fuel costs. Two trade sources and refinery official tell Reuters last week say state oil firm Nigerian National Petroleum Company dey allocate seven May cargoes for Dangote refinery, up from five for previous months.
Analysts dey watch the situation closely as Nigeria’s fiscal story dey become increasingly difficult to explain. The frequent price adjustments show how global events dey affect local market directly.
Petroleum Price Nigeria note say with crude oil markets still volatile and geopolitical tensions unresolved, frequent petrol price adjustments dey expected to continue. Gantry prices go dey closely mirror global oil trends and domestic supply-demand dynamics.
The refinery wey be Africa’s largest don become critical stabiliser of national fuel supply. Dangote talk say “Thank God for Dangote refinery” as the partnership with NNPCL don deliver measurable stability in product availability.
As Nigeria dey navigate these challenging times, the agility of Dangote refinery dey show how private sector participation fit help manage market volatility. But the frequent price changes still dey affect everyday Nigerians wey dey feel the pinch at fuel stations.
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