The price of Premium Motor Spirit (petrol) at retail pump stations may soon rise to between N980 and over N1,000 per litre, depending on location nationwide, following a fresh increase in the gantry price by the Dangote Petroleum Refinery, The PUNCH has learnt. The development comes as the President of the Dangote Group, Aliko Dangote, unveiled plans to invest in electricity generation, alongside expansions into steel production and port infrastructure, as part of a broader ambition to industrialise Africa and strengthen domestic energy security. The strait remains a vital energy chokepoint, facilitating the daily movement of 20–21 million barrels of crude, condensate, and petroleum products—roughly 20 percent of global daily oil consumption and nearly 30 percent of total seaborne crude trade.
Author: Punch Newspapers
Published at: 2026-03-02 23:21:12
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