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Amid the escalating tensions in the Middle East, data from the Major Energies Marketers Association of Nigeria has shown that a litre of imported petrol is about N64 cheaper than the one produced by the Dangote Petroleum Refinery.
However, the refinery debunked the report, challenging importers to defy the ongoing airstrikes in the Middle East and bring in petroleum products.
Monday, the Dangote refinery increased its gantry price from N774 to N874. The adjustment followed a jump in oil prices to $84 per barrel, up from below $70, days before the airstrikes involving the United States, Iran, Israel, and other countries.
Following the increment, filling stations on Tuesday raised their pump prices to as high as N937, depending on the location. Before the Middle East crisis deepened over the weekend, some filling stations had already been selling petrol at prices ranging between N812 and N839, but the crisis disrupted the global fuel market, affecting Nigeria and other countries.
However, data by MEMAN indicated that Dangote’s petrol gantry price was N874 per litre as of Monday, while the landing cost of imported petrol was N809.37 per litre, showing a difference of about N64 between the two sources.
MEMAN also reported that Dangote’s diesel price was N1,169.42, while imported diesel was N1,125.70 per litre.
However, officials of the Dangote refinery, who did not want to be mentioned because of the sensitivity of the matter, said some importers were projecting a false narrative to ensure the Federal Government continues to issue import licences.
“Anybody can go to Apapa to get the landing cost, and anybody who likes should go to Iran and import. Some people just want us to depend on imports. Isn’t it time we ended that dependence on foreign products?
“Some people want importation to continue, and that’s not normal. You keep importing what can be produced locally. Is that a good thing? How do you expect our children to survive? Nigerians will import and destroy what we have locally,” an official said.
Aside from pricing, another official said Nigeria should be thankful to the Dangote refinery for shielding the country from the fuel crisis that could have paralysed commercial activities.
“Let’s think about what could have happened to Nigeria if we didn’t have a refinery in Nigeria at this time. Assuming there is no Dangote refinery in Nigeria, economic activities would have been paralysed by now.
“Many countries are not so lucky, and they are now facing long queues at filling stations. Dangote has saved Nigeria from that fuel crisis. This has taught us that there’s nothing like one’s country, and we must always be prepared,” he said.
In its report, MEMAN explained that the downstream sector saw a major upward price adjustment on Monday, driven by the Dangote refinery raising its gantry price by N100, bringing it to N874 per litre.
The shift, triggered by rising global crude costs, pushed retail pump prices above N900 per litre. Many private depots reportedly paused sales briefly to recalibrate their pricing in response.
“The market is currently in a state of high uncertainty. With Brent crude climbing above $80/bbl due to escalating geopolitical tensions (specifically the US-Israel-Iran conflict), analysts warn that the cost of petrol remains under significant pressure. If crude prices continue toward the $90/bbl mark, domestic pump prices could potentially reach N1,100 by next month,” MEMAN said.
On Wednesday, motorists flocked to petrol stations across Britain in a scramble for fuel as fears of a new oil crisis caused by the Iran war grew, according to a report by The Mirror UK.
Frustrated drivers complained on Wednesday about UK petrol stations running out of fuel and long queues at forecourts after hostilities erupted in the Middle East. Prices have risen by as much as 11 pence per litre in some locations.
In contrast, Nigeria relies on the Dangote refinery for an adequate fuel supply amid the geopolitical tensions. Petrol prices in Nigeria surged on Tuesday, but no queues were reported at filling stations. Analysts attribute this to the Dangote refinery reducing Nigeria’s dependence on imported fuel.
Commentators highlight the Dangote refinery’s role in shielding Nigeria from such disruptions. “Imagine a Nigeria without a refinery; we would be experiencing endless queues, black market prices, businesses slowing down, and an economy held hostage by fuel scarcity.
“Today, we stand at a turning point. The Dangote Petroleum Refinery & Petrochemicals is more than steel and pipes — it is energy security, economic power, job creation, and national pride,” an industry player who spoke in confidence stated.
During a recent meeting with refiners and stakeholders, the Dangote refinery assured them of sufficient fuel supply, though it noted challenges from insufficient crude, requiring some reliance on foreign feedstock.
This development, revealed in the fact sheet from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, signals a growing reliance on domestic refining capabilities and a potential reduction in the country’s longstanding dependence on fuel imports.
According to the NMDPRA’s State of the Downstream Sector report for January 2026, the total average daily supply of petrol reached 64.9 million litres per day in January.
Of this volume, receipts from domestic refineries — primarily driven by Dangote, the only petrol-producing refinery at the moment — accounted for 40.1 million litres per day, while imports by oil marketing companies and the Nigerian National Petroleum Company Limited stood at 24.8 million litres per day.
This marked the first time in the 13-month period covered by the report (from January 2025 to January 2026) that domestic production had exceeded imports, reversing a trend where foreign supplies often dominated the market.
The NMDPRA attributed the surge in domestic output directly to “improvement in supply from DPRP” — the Dangote Petroleum Refinery and Petrochemicals — which increased its PMS contributions from 32 million litres per day in December 2025 to 40.1 million litres per day in January 2026.
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