By Muhammad Mamman
Nigeria’s largest refinery, Dangote Refinery, has announced a fresh increase in the price of Premium Motor Spirit (PMS), raising its gantry rate from ₦1,175 to ₦1,245 per litre — a sharp ₦70 jump that is set to take effect from midnight on March 21, 2026.
The revised pricing will apply to all pending and undelivered volumes, signalling immediate impact across supply chains and potentially triggering wider market reactions.
In a related adjustment, the refinery also increased its coastal supply price from ₦1,512,648 to ₦1,606,518 per metric tonne. The company attributed the hike to ongoing global geopolitical tensions, which continue to exert pressure on energy markets worldwide.
Customers operating under valid Bank Guarantees have been allowed to continue lifting products under existing agreements, but must pay the price differential no later than March 23, 2026.
The latest move underscores growing volatility in Nigeria’s fuel market, with analysts warning of possible ripple effects on transport costs and consumer prices in the coming days.
