Confusion as Middle East Crisis Sparks Petrol Price War Between Marketers, Dangote

Confusion as Middle East Crisis Sparks Petrol Price War Between Marketers, Dangote

Amid escalating tensions from the US‑Iran‑Israel conflict disrupting global oil markets, Nigeria’s downstream sector is in the spotlight as petroleum marketers trade public barbs with the Dangote Petroleum Refinery over soaring petrol prices.

According to data from the Major Energies Marketers Association of Nigeria (MEMAN), a litre of imported petrol now costs about ₦64 less than petrol produced at the Dangote refinery, fueling accusations that the refinery’s pricing is adding pressure to already rising costs at the pump.

But Dangote refinery officials fired back, dismissing the comparison as misleading and challenging importers directly, saying: “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.

The refinery which recently raised its gantry price from ₦774 to ₦874 per litre says the uptick reflects higher global crude prices that surged above $84 per barrel as geopolitical tensions intensified.

Another refinery official argued that domestic refining should be a strategic advantage, adding: “Isn’t it time we ended that dependence on foreign products? Some people want importation to continue, and that’s not normal.”

Following the gantry adjustment, retail pump prices climbed above ₦900 per litre in many locations, underscoring market volatility. Marketers warned that continued crude price pressures could push prices even higher in the weeks ahead.