Dangote Petroleum Refinery & Petrochemicals has announced an upward adjustment in the gantry price of Premium Motor Spirit (PMS), moving from N699 to N799 per litre, a decision the company attributes to the conclusion of its temporary holiday price relief programme.
In a statement issued on Monday, the refinery explained that the recent pricing structure was a deliberate, short-term intervention designed to cushion the financial burden on Nigerian households during the festive season.
With the holidays concluded, the company stated that a price realignment was necessary to ensure the long-term sustainability of its operations and market stability.
“With the festive period concluded, PMS prices have been modestly realigned to sustainable levels to support long-term market stability and affordability. Under the current alignment, the PMS gantry price is N799 per litre, while MRS retail outlets are selling at N839 per litre,” the statement read.
The management expressed regret that despite its efforts to lower costs during the holidays marking the second consecutive year of such interventions many third-party filling stations failed to reflect the reduction at the pumps, effectively denying consumers the intended benefits.
The new pricing regime sees MRS filling stations adjusting their pump price to N839 per litre, up from the N739 maintained in recent weeks.
The price adjustment comes amidst a backdrop of speculation regarding the refinery’s operational status.
Recent reports by global energy analytics firm Kpler suggested that the refinery’s Residual Fluid Catalytic Cracking (RFCC) unit is facing restart delays until February 10, potentially capping gasoline output. However, the refinery’s management has firmly pushed back against claims of a shutdown or supply crisis.
David Bird, the Chief Executive Officer of Dangote Petroleum Refinery, reassured the public that the facility remains a stabilizing force in the downstream sector, currently supplying approximately 50 million litres of PMS daily to the domestic market.
Bird emphasized that the refinery’s unique design flexibility allows it to process a wide variety of crude and intermediate feedstocks, ensuring that supply remains uninterrupted even during planned maintenance of specific units.
Bird argued that as a domestic producer, the refinery is actively shielding the Nigerian market from the volatility associated with fuel importation and external supply shocks.
“Dangote Petroleum Refinery remains focused on delivering energy security, price stability, and long-term value for Nigerians,” the statement concluded.
Market checks in Abuja on Tuesday revealed that NNPC retail outlets were selling petrol at N815 per litre, while major independent marketers were dispensing the product at N820 per litre and above, placing the new Dangote-linked MRS price of N839 within the prevailing market band.