LAGOS — Premium Motor Spirit (PMS) retail prices across Nigeria reached ₦1,395 per litre over the weekend as filling stations adjusted to an upward review in wholesale pricing by the Dangote Petroleum Refinery.
The refinery increased its gantry price from ₦1,265 to ₦1,350 per litre—effective Saturday, September 12, 2026—marking an ₦85 per litre increase. In a circular issued by its Group Commercial Operations unit, Dangote Refinery instructed marketers and off-takers to return existing Authority to Collect (ATC) documents for repricing prior to loading. Coastal delivery prices were similarly adjusted to approximately ₦1.78 million per metric tonne.
The adjustment represents the fourth consecutive price increase by the refinery since August 21, cumulative raising gantry rates by ₦185 per litre (15.9 percent) in 22 days.
The price escalation is primarily driven by rising international crude oil benchmarks—which surpassed $104 per barrel—following military disruptions along the Strait of Hormuz amid Middle East geopolitical tensions.
Across retail outlets in Lagos and Ogun states, MRS filling stations adjusted pump prices to ₦1,395/litre, Mobil to ₦1,385/litre, NNPCL retail outlets to ₦1,380/litre, and Matrix to ₦1,360/litre. Independent outlets like BOVAS temporarily maintained prices at ₦1,280/litre pending stock replenishment.
Escalation of Gantry Prices (August 21 – September 12, 2026)
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August 21: ₦1,165 to ₦1,185 per litre
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August 26: ₦1,185 to ₦1,200 per litre
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August 29: ₦1,200 to ₦1,265 per litre
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September 12: ₦1,265 to ₦1,350 per litre
