Metro
Dangote Refinery Raises Petrol Price to N1,275, Diesel Now N1,950
The Dangote Petroleum Refinery has increased the gantry price of petrol and diesel, further tightening pressure on consumers and businesses across Nigeria. This is however, in response to the rising geopolitical tensions in the Middle East and their ripple effects on global energy markets.
A top official at the refinery, who confirmed the development to our correspondent on Tuesday night, said the facility adjusted its pricing in response to prevailing international crude oil benchmarks and market realities.
The new pricing template shows that petrol rose by N75 per litre to N1,275, representing an increase of about 5.02 per cent, while diesel jumped by N200 per litre to N1,950.
This marks a sharp increase from last month’s prices of N1,200 per litre for petrol and N1,750 for diesel, signalling that diesel is now on track to breach the N2,000 per litre mark at the pump, further intensifying cost pressures across the economy.
“The adjustment is in line with global market trends. You are aware of the ongoing tensions in the Middle East and how they have impacted crude oil prices. These are external factors that directly influence refined product pricing,” the official, who spoke in confidence due to the lack of authorisation to speak on the matter, stated.
He added, “Petrol has been reviewed upward by N75 to N1,275 per litre, which is about a five per cent increase, while diesel has increased more significantly by N200 to N1,950 per litre. These changes reflect the realities of the international market.”
Market data from Petroleumprice.ng corroborated the development, indicating that the latest petrol price reflects a 5.02 per cent increase at the gantry level.
The development comes at a time when stakeholders had hoped that increased local refining capacity would help stabilise domestic fuel prices. However, analysts say Nigeria remains exposed to global oil price volatility due to its reliance on international crude benchmarks for pricing.
The latest hike could trigger a fresh wave of increases in pump prices nationwide, with marketers expected to pass on the additional cost to consumers in the coming days.
Global oil markets have remained volatile in recent weeks due to escalating tensions in the Middle East, a region that accounts for a significant share of the world’s crude oil supply. Any disruption or perceived risk to supply routes often leads to price spikes, which in turn affect refined petroleum products globally.
Nigeria, despite being an oil-producing country, operates a deregulated downstream sector where fuel prices are largely determined by market forces. This means that local prices are influenced by international crude prices, exchange rates, logistics costs, and refinery operations.
The Dangote Petroleum Refinery, Africa’s largest, was expected to reduce Nigeria’s dependence on imported fuel and help stabilise prices. However, experts note that as long as crude oil pricing remains tied to global benchmarks, domestic fuel prices will continue to fluctuate in response to international developments.
The latest increase also comes amid concerns over affordability, with consumers already grappling with high energy and transportation costs. A sustained price increase could worsen inflationary pressures and slow economic recovery.
Gunmen suspected to be kidnappers have attacked a commercial bus operated by GUO Transport along the Benn-Ore expressway, killing the driver and abducting several passengers in what underscores Nigeria’s deepening insecurity on major highways.
Reports indicate that the assailants ambushed the South East-bound vehicle, opened fire on the driver, who died at the scene, and subsequently whisked away passengers to an unknown destination.
The incident is believed to have occurred along a notorious stretch of the highway linking the South-West to the South-South, long plagued by banditry and abductions.
While official confirmation from security agencies is expected, local sources and a circulating video showed that passengers might have forcefully been taken into nearby forests, a tactic commonly employed by kidnapping syndicates operating along the corridor. Similar attacks in the past have involved mass abductions, with victims later released after ransom payments.
The Executive Secretary/CEO of the Lagos State Security Trust Fund (LSSTF), Dr. Ayodele Ogunsan, on Thursday paid a high-profile courtesy visit to the Lagos Neighbourhood Safety Agency (LNSA), where he lauded the agency’s operational efficiency, technological advancement, and grassroots-driven policing model.
Dr. Ogunsan in company of the fund’s Director of Administration, Mr. Adegbola Lewis were received at the LNSA headquarters by the agency’s General Manager, Dr. Ifalade Oyekan, alongside top officials and personnel. In a ceremonious display underscoring the importance of the visit, the LSSTF boss was accorded a mounted guard of honour. He was also decorated with LNSA Medal of Honour and presented with a commemorative lapel pin in recognition of his contributions to strengthening Lagos’ security architecture.
The visit featured an extensive tour of the agency’s facilities, during which Dr. Ogunsan inspected a range of modern security assets, including surveillance drones, body-worn cameras, and other high-tech equipment deployed to enhance intelligence gathering and rapid response operations.
The Lagos Neighbourhood Safety Agency, established by the Lagos State Government as a community-based security outfit, plays a critical role in complementing conventional law enforcement agencies such as the Nigeria Police. Its core mandate includes grassroots intelligence gathering, routine patrols, crime prevention, and fostering peaceful coexistence within communities. Officers of the agency, largely drawn from the local population, leverage their deep knowledge of their respective neighbourhoods to monitor suspicious activities, mediate disputes, and provide actionable intelligence to security agencies.
Speaking after the inspection, Dr. Ogunsan expressed admiration for the strides recorded under Dr. Oyekan’s leadership, particularly highlighting the effectiveness of the agency’s community policing framework.
“The strength of the LNSA lies in its people-oriented approach. Having officers who live and serve within their communities builds trust, enhances intelligence gathering, and ultimately strengthens public safety,” he said. “What we have seen here today reflects strategic investment, innovation, and a clear commitment to safeguarding lives and property.”
He reaffirmed the commitment of the LSSTF to sustaining support for the Lagos Neighborhood Safely Agency (LNSA) and other security agencies across the state, noting that security remains a critical pillar for economic growth, social stability, and investor confidence in Lagos.
In his response, Dr. Oyekan expressed appreciation for the continued partnership and support that the agency has enjoyed over the years from the LSSTF, describing it as instrumental to the agency’s operational successes. He reiterated that the agency’s neighbourhood-based policing structure which is anchored on local familiarity and collaboration remains central to its mission of proactive crime prevention and effective security delivery.
The visit highlights the growing synergy between key security stakeholders in Lagos State, in a bid to strengthen intelligence-led and community-driven strategies to address evolving security challenges in Nigeria’s commercial nerve centre and West Africa’s economic hub.
Adron Homes and Properties Limited delivered a commanding performance at the grand finale of the 2026 Ibadan Cultural Festival, firmly establishing its dominance as Nigeria’s leading real estate brand. At the iconic Lekan Salami Stadium, Adamasingba, the company did not just sponsor the event, it took control of the narrative, transforming the cultural celebration into a powerful showcase of brand strength, innovation, and market authority.
With the presence of the Olubadan of Ibadanland, His Imperial Majesty, Oba Rashidi Adewolu Ladoja, alongside a distinguished assembly of traditional rulers, high chiefs, and top government dignitaries, Adron Homes leveraged the high-profile platform to reinforce its influence at the intersection of culture, community, and modern development. The royal commendation from the Olubadan, who openly praised the company’s contribution, further cemented Adron’s growing stature as a key driver of cultural and socio-economic advancement.
Speaking at the event, the Group Managing Director, Mrs. Adenike Ajobo, projected a bold and uncompromising vision, emphasizing that Adron Homes is not just building houses but creating ecosystems where heritage, lifestyle, and modern living seamlessly converge. She reaffirmed that the company’s presence in Ibadan is strategically positioned to redefine the city’s residential landscape while embedding the brand deeply within the cultural fabric of its people.
Adron Homes’ activation proved to be one of the most dominant features of the festival. The “Adron Experience” zone became the epicenter of engagement, attracting massive crowds through immersive brand interactions, including the viral 360-degree video booth that drove widespread digital visibility. Simultaneously, the Ibadan Sales Team executed a results-driven engagement strategy, converting high foot traffic into real business opportunities while showcasing Adron’s expanding portfolio of modern, world-class estates transforming the city’s iconic skyline.
By seamlessly integrating its “Home Festival” concept into the cultural celebration, Adron Homes blurred the line between tradition and innovation, delivering an unmatched brand experience that competitors could not rival. As the festival drew to a close, one message was unmistakable, Adron Homes did not just participate; it dominated, setting a new benchmark for corporate cultural investment and reinforcing its position as the brand defining the future of real estate in Nigeria.
