Private depot operators have adjusted the ex-depot price of premium motor spirit (PMS), commonly called petrol, upward across several parts of the country.
The increase follows an earlier price drop implemented weeks ago when depot owners reduced ex-depot prices by N118 — from an average of N828 per litre to about N710 — after the Dangote Petroleum Refinery slashed its own rates.
On December 12, 2025, the refinery lowered its ex-gantry price of petrol to N699 per litre from N828.
Joseph Obele, the national publicity relations officer (PRO) of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), confirmed the latest hike and shared a price template dated January 2 showing revised depot prices nationwide.
In Lagos, Eterna is selling at N800 per litre, Nipco at N750, AITEO at N780, Integrated at N800, and Lister at N780.
In Warri, petrol is selling for N805 at Matrix and N800 at Danmarna, while Parker and A.Y.M Shafa are selling at N801 and N800, respectively.
In Port Harcourt, Masters is selling at N802 per litre, while Sigmund sells at N804.
Obele said prices could rise further in the coming days, attributing the trend to panic sparked by reports that the Dangote refinery is planning a shutdown for turnaround maintenance.
“Prices will likely increase in the coming days. The awareness that Dangote is shutting down is causing panic,” he said.
However, a source at the Dangote refinery dismissed claims of a shutdown, insisting that production remains ongoing.
The source said reports of a “turnaround maintenance” may have been misinterpreted.
“We are expanding the refinery to 700,000 barrels from 650,000. So it is not as if anything is wrong with the refinery,” the source said.
“Production is still going on, of course, not at 650,000 because of the adjustment to some units to boost production to 700,000.
“Nigerians can see that these importers are exploiting the country. Why hike price of your products because a refinery you are not buying from is allegedly doing maintenance.”
According to the source, the refinery’s ex-gantry price remains N699 per litre, with enough stock available to supply 50 million litres of petrol daily, “as previously promised”.
“By God’s grace, we are enhancing free distribution this month. I am sure you would have seen more of our CNG trucks at filling stations,” he added.
The source also urged Nigerians not to panic, assuring that petrol would continue to sell at N739 per litre at MRS stations, while IPMAN outlets would dispense between N740 and N745.
(THE CABLE)
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