Marketers to Pay More as Dangote Refinery Increases Petrol Price to N850/Litre

The Dangote Petroleum Refinery has increased its ex-depot price of petrol to N850 per litre, up from the previous rate of N820, citing abuse of its discounted pricing scheme.

Abubakar Garima, National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed the price hike to TheCable on Friday.

“The new ex-gantry price of petrol at the refinery is N850 per litre,” he said.

Garima also revealed that petrol sales to partners resumed this week after a one-week suspension.

The price adjustment comes shortly after the Nigerian National Petroleum Company (NNPC) Limited reduced its retail price to N875 per litre in Lagos and N900 in Abuja, creating a rare overlap in pricing between the two dominant suppliers.

Last week, Dangote Refinery had directed its partners to suspend payments for petrol loading at the gantry, halting operations temporarily.

The company attributed the disruption and subsequent price review to the manipulation of its strategic partner’s discounted pricing scheme. The scheme, which previously allowed vetted partners to purchase petrol below the ex-depot rate, was discontinued due to misuse.

“Some partners were reselling their authority to collect (ATC) rights to marketers outside the scheme,” the company said, adding that this allowed unauthorised marketers to “lift products below the prevailing ex-gantry price.”

Following the suspension of the discount scheme, some Dangote refinery retail partners raised their pump price to N915 per litre in Lagos.

The latest adjustment means Nigerians and businesses will pay more to access petrol, as ex-depot pricing directly influences final retail costs.