BREAKING: Dangote refinery hikes gas value to N1,245/litre

Nigerians and Petroleum entrepreneurs are bracing for one more spherical of value will increase after the Dangote Petroleum Refinery introduced a recent hike within the value of Premium Motor Spirit (petrol), citing escalating world geopolitical tensions.

In a discover despatched to entrepreneurs on Friday night time and obtained by our correspondent, the refinery disclosed that its ex-depot (gantry) value had been raised from N1,175 per litre to N1,245 per litre, whereas the coastal value was additionally adjusted upward.

“Please be told that because of the present world geo-political state of affairs which has additional escalated, the PMS gantry & coastal value has been reviewed and up to date as outlined under,” the discover learn.

The doc confirmed that the gantry value elevated by N70 per litre, whereas the coastal value rose from N1,512,648 per metric tonne to N1,606,518 per metric tonne.

Based on the refinery, the brand new pricing regime will take impact from midnight on March 21, 2026.

“The refinery raised its coastal value from N1,512,648 per metric tonne to N1,606,518 per metric tonne, whereas the gantry value elevated from N1,175 per litre to N1,245 per litre.

“Please be aware that the revised value will apply to all unloaded gantry and coastal volumes and is efficient from 12am on the twenty first of March 2026,” it said.

The refinery additionally clarified that entrepreneurs with current provide preparations backed by financial institution ensures would nonetheless be allowed to carry merchandise underneath earlier approvals, topic to sure situations.

“For purchasers with a sound Financial institution Assure with DPRP, loading will proceed with current ATCs/PRN (if any) offered the BG credit score steadiness covers the value change differential,” the discover added.

It additional defined that the price distinction arising from the brand new pricing can be recovered from entrepreneurs.

“The corresponding debit be aware will likely be handed in your buying and selling account with DPRP. Cost proof for the value change differential will likely be required by Monday, 23-March-2026,” the corporate mentioned.

The most recent adjustment is predicted to ripple throughout the downstream sector, with pump costs more likely to rise within the coming days as entrepreneurs cross on the elevated price to customers.

The hike underscores the continued vulnerability of Nigeria’s gas market to worldwide crude oil value volatility and provide chain disruptions, regardless of the approaching on stream of the Dangote refinery, which was anticipated to stabilise home provide.

The event comes amid heightened world uncertainty pushed by ongoing tensions in key oil-producing areas, significantly within the Center East, which has pushed up crude oil costs and freight prices.

The refinery, nonetheless, maintained that the adjustment was essential to replicate prevailing market realities, stressing that the pricing overview was pushed by exterior components past its management.