Dangote Group subsidizes petrol and diesel, sells jet fuel at market price
via Punch Nigeria4 min read
A senior management official of the Dangote Group revealed that the Dangote Petroleum Refinery is subsidizing the petrol and diesel it sells in the Nigerian market. The official stated that the company's N1,200/litre ex-depot price for petrol is below the competitive market price, attributing the increase in crude prices to the US-Iran war. Brent crude jumped above $100 a barrel from $66 per barrel on February 28, following the blocking of the Strait of Hormuz by Iran. Dangote subsequently raised its petrol gantry price from N774 to N1,200. The official explained that while petrol and diesel prices are optimized, the refinery cannot subsidize aviation fuel, which is sold at market price. Another Dangote Group official confirmed that the company sells its aviation fuel to marketers at N1,799 per litre, which is below N2,000. This contrasts with reports from the Airline Operators of Nigeria AON, which stated that Jet A-1 prices have risen from N900/litre on February 28, 2026, to N3,300/litre, an increase of over 300 percent. The Major Energies Marketers Association of Nigeria MEMAN attributed the rising cost of aviation turbine kerosene to global factors and geopolitical tensions, expressing surprise at the N3,300 per litre price cited by AON, stating their survey showed significantly lower prices.
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