Dangote raises petrol price to ₦1,175 per litre
Aliko Dangote’s company has raised the price of petrol to ₦1,175 per litre, marking the third consecutive weekly increase in fuel prices. The move comes amid fluctuations in global oil markets and rising operational costs for fuel marketers in Nigeria.
Industry sources explain that Dangote’s petrol price adjustment is aimed at aligning local pump prices with international trends and the costs of importation. The company, along with other major marketers, has cited supply chain pressures, shipping costs, and naira-dollar exchange rates as key factors influencing retail fuel prices.
Consumers have expressed concern over the repeated hikes, warning that rising petrol costs will increase transportation and living expenses across the country. Economic experts note that sustained fuel price increases may have a cascading effect on goods and services, potentially driving inflation higher if left unchecked.
The company has assured that the price review reflects the realities of the current market, and stakeholders are encouraged to plan ahead for the adjustments. Analysts also point out that while these increases are necessary for business sustainability, there is an urgent need for investment in local refining capacity to reduce dependency on imported petrol and stabilize prices in the long term.
The latest adjustment underscores ongoing challenges in Nigeria’s fuel sector, highlighting the interplay between global oil prices, domestic policy, and consumer impact. Market watchers continue to monitor developments, anticipating how sustained hikes may influence both the economy and public sentiment.
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