Dangote Petroleum Refinery has raised its ex-depot price for premium motor spirit, also known as petrol, to N880 per litre.
The increment represents a N55 increase from the previous rate of N825 per litre.
Abubakar Shettima, national president of IPMAN, confirmed the development to TheCable on Saturday.
“We are aware that the refinery has reviewed the price to N880 per litre. Our members have been informed,” he said.
The development is coming days after the refinery offered nationwide logistics for petrol, and diesel distribution.
The refinery said it also acquired 4,000 new compressed natural gas (CNG)-powered tankers to enhance its fuel distribution capacity across the country.
“It affirms our dedication to improving the availability and affordability of fuel, in support of broader efforts to strengthen the economy and improve the well-being of all Nigerians,” the refinery said.
Sequel to the development, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) stated that the Dangote refinery’s forward integration adoption could lead to a monopoly in disguise, and might cause significant job loss in the downstream sector.
