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Dangote Petrol Price Hike Sends Fuel Costs Above N1000 Across Nigeria

Published by Samuel Ayomide on March 8th, 2026.

Dangote Petrol Price Hike Sends Fuel Costs Above N1,000 Across Nigeria

Nigerians are facing rising fuel costs as Dangote Petroleum Refinery increased its gantry price of Premium Motor Spirit (PMS) to N995 per litre, pushing pump prices above N1,000 in several states. Retail prices now range from N1,000 to N1,190 per litre, depending on location and filling station, forcing transport operators and businesses to adjust fares and service charges.

The increase comes amid escalating geopolitical tensions in the Middle East involving Iran, the United States, and Israel, which have disrupted global oil supply chains. The Strait of Hormuz, a critical oil transit route, has seen reduced tanker movements, driving Brent crude prices above $90 per barrel and impacting global fuel markets.

In Abuja, fuel now sells between N1,052 and N1,105 per litre, with commercial drivers raising fares to offset higher costs. Lagos motorists pay up to N1,190 per litre in some outlets, with delivery and transport charges also increasing. Similar price adjustments are observed in Kaduna (N1,060–N1,070), Taraba (N1,000–N1,060), Edo (N1,050–N1,072), and Rivers (N1,050–N1,075).

Despite the hike, fuel remains available, and long queues are largely absent. Consumers, however, are voicing frustration over the economic strain, warning that rising petrol costs will drive up goods and service prices, intensifying the cost-of-living crisis in Nigeria.

The sudden adjustment highlights the vulnerability of domestic fuel prices to global supply shocks, even as local refineries operate, and underscores the pressure on households and businesses already grappling with inflation.