According to a report by The Punch on Monday, October 20, 2025, as petrol prices near ₦1,000 per litre nationwide, Dangote Refinery has thrown down the gauntlet to fuel marketers, declaring it has over 310 million litres of petrol ready for loading.
Dangote Group’s Vice President, Devakumar Edwin, said during a facility tour on Friday that the refinery is fully operational and capable of meeting Nigeria’s fuel demand. He dismissed rumours of supply shortages as misinformation by depot owners and some marketers.
“Bring your trucks—we’ll load. We have more than 310 million litres in our tanks. There’s no excuse for scarcity,” Edwin said, warning against price speculation.
He added that the refinery reduced crude intake recently to manage inventory costs, not due to technical problems. “Every refinery does turnaround maintenance. That doesn’t mean we’re not working. Production is ongoing,” he said.
Despite the refinery’s assurances, pump prices across Lagos, Abuja, and Ogun surged to between ₦920 and ₦950. NNPC retail outlets also raised their prices, briefly hitting ₦928 before a weekend reduction to ₦920.
Depot prices from Dangote’s partners, MRS and Heyden, hovered around ₦923–₦925, while the refinery’s gantry price reportedly rose from ₦820 to ₦870.
Consumers are baffled by the hike, especially since crude oil prices and the exchange rate have both dropped. Brent crude recently fell below $60 per barrel, and the naira gained to ₦1,470/$1—yet fuel costs continue to rise.
The Independent Petroleum Marketers Association of Nigeria blamed depot owners for driving the surge, while critics question why prices are spiking despite local production.
With Dangote challenging marketers to collect petrol at will, Nigerians are demanding transparency and relief from the persistent fuel price chaos.
SOURCE: Big_Pen
