Depot owners hike petrol price amid reports of Dangote refinery shutdown over maintenance

Private depot owners have increased the ex-depot price of premium motor spirit (PMS), also known as petrol, in major locations.

The development comes weeks after depot owners slashed ex-depot prices from an average of N828 per litre to about N710 per litre, a reduction of N118, following price cuts by the Dangote Petroleum Refinery.

On December 12, 2025, Dangote refinery reduced its ex-gantry petrol price to N699 per litre, down from N828.

Confirming the latest price increase, Joseph Obele, the national publicity relations officer (PRO) of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), shared a price template dated January 2 showing updated 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, the sells for N805 at Matrix and N800 at Danmarna, while Parker and A.Y.M Shafa sell for N801 and N800, respectively.

In Port Harcourt, Masters is selling at N802 per litre, while Sigmund sells at N804.

Obele said prices may rise further in the coming days, citing panic triggered by reports that the Dangote refinery is shutting down operations for a planned “turnaround maintenance” at the refinery.

“Prices will likely increase in the coming days. The awareness that Dangote is shutting down is causing panic,” he said.

‘PRODUCTION STILL ONGOING’

Speaking with TheCable, a source at the refinery dismissed claims of a shutdown, saying production is still ongoing.

He said reports of a “turnaround maintenance” could subject the situation to being misconstrued.

“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, and it has sufficient stock 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 urged Nigerians not to panic, assuring that petrol would still be sold at N739 per litre at MRS stations, while IPMAN outlets would dispense between N740 and N745.