Dangote refinery price hike sparks debate over petrol import ban
Nigeria’s downstream petroleum sector is facing disagreement among oil marketers after the Federal Government suspended petrol import licences. The Dangote Petroleum Refinery raised its depot price of petrol, reversing an earlier reduction, which has disrupted trading activities. Some marketers support the import ban, citing increased local refining, while others argue that domestic supply cannot meet national demand. Ahmed Fashola and the Independent Petroleum Marketers Association of Nigeria back the regulator’s decision, but major dealers remain skeptical.
TLDR
- The Dangote Petroleum Refinery increased its depot price of petrol to N1,175 per litre, reversing a recent reduction.
- An official notice stated the new gantry and coastal prices would be applied to all unloaded PMS allocation effective 1 pm today, March 13, 2026.
- The refinery had previously reduced the ex-depot price to N1,075 per litre on March 10, 2026, which led to increased buying activity.
- Figures from the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed local refineries supplied 36.5 million litres per day in February 2026, while imports contributed just three million litres per day.
- The suspension of petrol import licences has divided marketers, with some supporting the move to encourage domestic refining and others warning of potential supply shortfalls.
