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Petrol price at Dangote Petroleum Refinery rises to N995 per litre, up N221 in four days.
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Pump prices across Nigeria may exceed N1,050 per litre depending on logistics costs.
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Major Energies Marketers Association of Nigeria data shows imported petrol is currently cheaper than Dangote supply.
The Dangote Petroleum Refinery has increased its Premium Motor Spirit (petrol) gantry price to N995 per litre, representing a sharp N221 increase within four days.
A senior official of the refinery confirmed the development on Friday, explaining that the price adjustment followed recent volatility in global crude oil prices and shipping costs.
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The new price marks a rise from N874 per litre, which itself had been introduced earlier in the week after the refinery raised its ex-depot price from N774 per litre.
With the latest adjustment, petrol supplied by the refinery has climbed from N774 to N995 per litre within four days, representing about 29 per cent increase.
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Checks on petroleumprice.ng also confirmed that the new gantry price had been updated on the portal, signalling a shift in domestic downstream pricing benchmarks.
Industry analysts say the adjustment may trigger another increase in pump prices nationwide, with petrol likely to sell above N1,050 per litre in some areas, depending on transport costs and marketers’ margins.
The hike also followed a temporary halt in petrol loading operations at the refinery early Friday, a development marketers say often precedes price changes.
Officials at the refinery have defended the pricing decision, stating that petrol prices must reflect global crude prices, logistics costs and operational realities.
The company also said it aims to shield Nigeria from global supply disruptions by prioritising domestic supply, especially amid tensions linked to the US–Iran conflict, which has pushed Brent crude above $84 per barrel.
Data from the Major Energies Marketers Association of Nigeria shows that imported petrol currently lands at about N809.37 per litre, roughly N64 cheaper than Dangote refinery petrol.