CHANNELS
Filling stations in Lagos have increased petrol prices from ₦860 to ₦930 per litre, reflecting a ₦70 hike. Similar increases have been observed in Abuja and other northern cities, with prices ranging from ₦950 to ₦970 per litre. Stations affiliated with the Dangote Petroleum Refinery, including MRS Oil & Gas, Ardova Plc, and Heyden, have adjusted their prices accordingly.
This price surge follows Dangote Refinery’s decision to temporarily halt petrol sales in Naira due to discrepancies between Naira sales and dollar-denominated crude purchases. The refinery stated that sales in Naira have exceeded the value of Naira-denominated crude received from the Nigerian National Petroleum Company Limited (NNPCL), prompting the need to align sales currency with procurement currency.