Petrol prices in Nigeria have surged at several major depots, driven by reports of a planned maintenance shutdown at the Dangote Refinery. Industry sources say the move has prompted depot owners and marketers to adjust ex-depot prices upward.
BrandIconImage’s check on Saturday revealed that some key depot operators, including Ranoil, Optima, and AYM Shafa, were selling petrol at around N800 per liter, up from the previous N740–N780 range. Dangote and Aiteo depots reportedly sold at N702 and N740 per liter, respectively.
The hike comes amid reports that Dangote Refinery is preparing for a turnaround maintenance aimed at improving efficiency and production output. Devakumar Edwin, Vice President of Dangote Industries, told Platts (S&P Global) that the refinery’s production levels have “gone beyond 100 percent” in several units, and the planned work is intended to remove constraints and raise overall output.
At the retail level, petrol prices across major filling stations in Nigeria ranged between N739 and N910 per liter as of Saturday afternoon, reflecting the upward pressure from depot adjustments.
Market analysts suggest that any prolonged shutdown or extended maintenance period could further affect downstream supply, potentially keeping prices elevated in the short term.