Nigeria TV Info 

Petrol Nears N1,400/Litre as Dangote Refinery Hikes Ex-Depot Price

Nigeria’s fuel market is under fresh pressure as petrol prices edge close to N1,400 per litre following a new ex-depot price adjustment by the Dangote Refinery. Marketers across major cities have begun revising pump prices upward, sparking renewed concern over inflation and transport costs.

The latest price increase is attributed to changes in global crude oil trends, exchange rate volatility, and domestic supply adjustments. Fuel dealers say the hike has forced retail stations to update their pricing structures, with Lagos and other urban centres already experiencing noticeable increases.

Transport operators are warning that the development could trigger another round of fare hikes, further worsening the cost of living. Economic analysts also note that sustained fuel price pressure could deepen inflationary trends, especially in food and logistics sectors.

While consumers continue to express frustration, stakeholders in the downstream oil sector are calling for market stability and improved supply efficiency to cushion the impact of rising fuel costs.