In a significant move across Nigeria's downstream petroleum sector, the Dangote Petroleum Refinery has increased its ex-gantry price for Premium Motor Spirit (PMS) by **₦85 per litre**, pushing the wholesale benchmark from **₦1,265 to ₦1,350 per litre**—a 6.7% hike.

 

Data from industry platform *Petroleumprice.ng* indicates that the price adjustment stems directly from a sharp rise in global crude oil prices and mounting product replacement costs, with the current landing cost of PMS reaching **₦1,311 per litre**.

 

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**Key Industry Takeaways**

 

* **Price Adjustment:** Dangote’s ex-gantry price moves up from ₦1,265 to ₦1,350 per litre.

* **Cost Pressures:** PMS landing cost now stands at ₦1,311 per litre, driven by international crude price surges.

* **Market Reaction:** Depot owners and marketers across the country are recalibrating retail positions as inventory replenishment costs escalate.

 

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**Political Debate: Atiku Weighs In on Fuel Pricing**

 

The price hike has reignited political debate over Nigeria's downstream sector strategy. Responding to the development through his Senior Special Assistant on Public Communication, Phrank Shaibu, former Vice President Atiku Abubakar asserted that market realities vindicate his proposal for a **production-based fuel subsidy**.

 

Atiku clarified that his model does not ask domestic refiners to sell at a loss, but rather focuses on lowering crude feedstock costs for domestic refineries to manage end-user prices.

 

> *"Dangote raised a legitimate business concern. The Presidency turned it into a campaign of fear. We are restoring subsidy through a production subsidy model, not an import subsidy model."*

> — **Phrank Shaibu, Senior Special Assistant to Atiku Abubakar**

 

With Dangote’s new ₦1,350 wholesale benchmark in effect, motorists and business owners nationwide are keeping a close watch on pump prices as depot operators adjust their final retail rates.