Lagos, Nigeria: The Dangote Refinery raised its ex-depot price for Premium Motor Spirit to ₦1,350 ($1.00) per litre on Wednesday, May 6, 2026.
Okay News reports that a senior official at the refinery and the pricing platform Petroleumprice.ng confirmed the new gantry price implementation across all loading channels.
The adjustment represents an increase of ₦75 ($0.06) from the previous rate of ₦1,275 ($0.94) per litre. It marks the second price increase within seven days, following an earlier adjustment from ₦1,200 ($0.89) per litre.
A senior official said: “The new pricing template has been activated across the board. All loading points have been updated, and marketers are already responding by adjusting their depot prices. This is not an isolated change; it reflects prevailing supply and cost pressures in the system.”
A temporary halt in the issuance of pro forma invoices earlier in the week preceded the price change.
The official said: “The suspension of PFI created a short-term supply squeeze. When you combine that with international crude price movements and logistics costs, it becomes inevitable that depot prices will adjust upward. What we are seeing is a direct market response to those realities.”
A senior management official from the Nigerian conglomerate Dangote Group recently stated that the Dangote Petroleum Refinery has been subsidising both petrol and diesel sold to the Nigerian market.
