🛢️ Fuel Price Jumps Again: Nigerians Hit with ₦880/Litre Petrol Rate
Dangote Refinery petrol price shock is back — and this time, it’s coming directly from Dangote Petroleum Refinery.
In a move confirmed by a verified pro forma invoice and several credible news outlets including The Guardian Nigeria, TheCable, and Legit.ng, the refinery has raised its ex-depot petrol price to ₦880 per litre — a ₦55 increase from the previous ₦828.
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💡 What is the “Ex-Depot” Price?
For clarity, the ex-depot price refers to the rate at which oil marketers purchase fuel directly from the refinery. It’s the base cost before distribution, taxes, and station profits are added — and heavily influences pump prices across the country.
While filling stations haven’t officially rolled out nationwide adjustments yet, early signals show that retail prices may climb to ₦900 or higher in some Nigerian cities.
📈 Why Dangote Refinery petrol price is Raises?
Despite being touted as a game-changer for Nigeria’s fuel independence, the Dangote Refinery is not immune to market forces. Here are a few reasons for the hike:
- Crude oil sourcing: The refinery still imports crude oil — priced in USD — due to low local supply.
- FX volatility: A weak naira against the dollar continues to inflate operational costs.
- Production costs: From refining tech to logistics, production remains capital-intensive.
- No subsidy cushion: Unlike in the past, fuel subsidies have been removed, meaning costs are now market-driven.
These factors combined mean local refining does not guarantee cheaper prices — at least not yet.
💬 Nigerian Reactions: Outrage and Sarcasm
Social media is ablaze with reactions from Nigerians, who feel increasingly burdened by the rising cost of living. On X (formerly Twitter), users had a lot to say:
“I thought having our own refinery would reduce fuel prices. Now it’s going up again?” – @fuelwatch_naija
“₦880 per litre? How do people earning ₦30k monthly even survive?” – @costofliving_234
“So this is the ‘relief’ they promised us?” – @nigeriathinkers
The trending hashtag #FuelPrice was flooded with memes, jokes, and threads predicting a domino effect across transportation, food, and logistics.
📊 What Experts Are Saying Dangote Refinery petrol price increase
Economic analysts warn this increase might trigger a fresh wave of inflation, especially in:
- Public transportation costs
- Market food prices
- Small business operations (e.g. generator usage)
- Logistics and interstate travel
Dr. Ifeanyi Adebayo, an energy economist, told The Cable:
“Until local crude is prioritized for refining, and forex rates stabilize, Nigerians should brace for more fuel price volatility.”
🧠 Dangote Refinery: Hopes vs Reality
When the Dangote Refinery was launched in 2023, many Nigerians expected immediate fuel price relief. But here’s where the reality stands:
| Expectation | Reality |
|---|---|
| Cheaper fuel | Price now ₦880/litre |
| Local crude refining | Crude still imported |
| FX independence | Still dollar-dependent |
| Inflation control | Cost of living still rising |
That said, some industry voices argue that this pain is transitional, and that long-term benefits — such as self-sufficiency and fuel export potential — are still in motion.
🔍 How This Affects You
If you’re a commuter, business owner, or even a student, here’s what you can expect in the short term:
- Transport fares may increase by 10–20%
- Food vendors and traders may pass on higher delivery costs to buyers
- Diesel and generator users will feel the squeeze — especially SMEs and homes without power supply
- Resellers may exploit regional differences in supply/demand
To stay updated on pump prices in your area, bookmark PetroleumPrice.ng, a reliable tracker for daily fuel pricing.
🔚 Conclusion: What Comes Next?
The ₦880/L price tag is more than just a number — it’s a signal of the challenges Nigeria faces in its journey toward fuel independence.
While Dangote Refinery promises long-term supply stability, many Nigerians are focused on the now — where the cost of living, rising inflation, and economic uncertainty are daily struggles.
📌 Stay with Shopinson as we track petrol prices across states, analyse policy shifts, and explore how Nigerians are coping in real-time.