Fuel heading to ₦1,500 Naira has Dangote increase price again

• Dangote Petroleum Refinery raised petrol price by ₦75, pushing it to about ₦1,350 per litre.

• Filling stations across Nigeria are already selling fuel close to ₦1,400 per litre in some areas.

• Rising prices are driven by global oil costs, foreign exchange pressure, and supply challenges.

• The government, led by Bola Tinubu, says fuel subsidy and price control will not be reintroduced.

The Dangote Petroleum Refinery has increased the ex-depot price of petrol (Premium Motor Spirit) by ₦75, pushing it up to around ₦1,350 per litre from ₦1,275. It’s not even been that long since the last hike in April 2026, which was already blamed on shifts in global oil prices.

Now, the effect is already showing at the pumps. Across parts of the country, many filling stations are edging close to ₦1,400 per litre, and in some places, it’s already there.

The increase was confirmed on Wednesday by a senior official at the refinery, alongside data from Petroleumprice.ng, a platform that tracks fuel pricing trends.

There isn’t just one reason. It’s a mix of pressures coming from different angles.

Global crude oil prices are still unstable, and since Nigeria now operates a deregulated downstream sector, local petrol prices move with international trends. Add to that the ongoing foreign exchange challenges, especially the cost of importing fuel components, and it becomes harder to keep prices steady.

Supply issues haven’t helped either. All of this combined is why each adjustment seems to come faster than expected.

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Despite the rising cost, the Federal Government isn’t backing down from its current policy direction.

Speaking in Paris during a meeting between Bola Tinubu and global investors, Finance Minister Taiwo Oyedele made it clear: fuel subsidy is not coming back.

“We will not bring back fuel subsidy because it creates distortions for the economy, and we won’t introduce price control because we believe in the market,” he said.

He added that global developments, including tensions affecting oil supply routes, could open new opportunities for Nigeria as countries look to diversify energy sources.

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For everyday Nigerians, it’s simple, transport costs may rise again, and that usually trickles down into food prices and general cost of living.

With petrol now hovering between ₦1,350 and ₦1,400 per litre, there are growing concerns about how households and small businesses will cope if prices continue on this path.

And with no subsidy or price cap in sight, the market will likely keep deciding what comes next.