Business
Dangote Refinery Raises Petrol Price Amid Supply Suspension Shock
Dangote Refinery raises petrol ex-depot price to ₦1,275 and suspends sales, triggering concerns over fresh fuel price increases nationwide
The Dangote Refinery has increased its ex-depot price of Premium Motor Spirit by ₦75 per litre and temporarily suspended product sales following a disruption in its Proforma Invoice processing system, raising fresh concerns over fuel price increases across Nigeria.
Market data obtained from Petroleumprice.ng, confirmed by a refinery official on Wednesday, showed that the loading price of petrol was raised from ₦1,200 to ₦1,275 per litre. Coastal supply pricing also rose to ₦1,215 per litre.
A senior refinery source confirmed the adjustment, stating that the new pricing structure had taken effect immediately.
The official also confirmed the suspension of sales, noting disruptions in the internal invoicing process.
“Yes, the increase of PMS to ₦1,275 per litre is true. Coastal price is ₦1,215,” the source said.
According to another insider, the refinery halted its Proforma Invoice entry process around 4:00 pm on Tuesday, disrupting normal supply operations and temporarily freezing both petrol and Automotive Gas Oil transactions.
The development has triggered concern among fuel marketers and depot operators, who fear that the suspension could lead to higher logistics costs and eventual increases in pump prices nationwide.
Industry operators say supply interruptions at major depots often ripple through the downstream market, increasing distribution costs and tightening product availability.
The pricing adjustment also comes amid a sharp rise in global crude oil prices, which has increased pressure on refiners.
Brent crude was trading at $114.80 per barrel as of 10:35 am (WAT), while West Texas Intermediate stood at $103.40 per barrel, both reflecting notable increases driven by geopolitical tensions affecting global supply routes.
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Analysts warn that sustained volatility in crude oil markets could further influence refined product pricing in the coming weeks.
The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has dismissed allegations that it appropriated the Niger Delta Economic & Investment Summit (NDEIS) brand, insisting it lawfully obtained trademark acceptance for the name and will proceed with its 2026 summit as scheduled.
In a statement issued on September 12, 2026, the chamber described claims by Kunle Nwiwa Junior as “cheap blackmail, misleading, mischievous and a misrepresentation of the facts,” maintaining that it independently developed the summit and followed all required regulatory procedures.
According to NDCCITMA, it applied for and received a Trademark Acceptance Letter for the name Niger Delta Economic & Investment Summit (NDEIS) in August 2025 under File No. NG/TM/O/2025/387284.
The chamber said the chronology of events contradicts allegations that it copied another party’s application, arguing that its trademark acceptance predated the period during which Nwiwa’s own application was reportedly still pending before the relevant authorities.
“Economic Summit” is a generic expression
NDCCITMA further argued that the phrase “Economic Summit” is a generic description widely used for conferences that bring together governments, investors, businesses, development institutions and other stakeholders to discuss investment and economic development.
The chamber maintained that while concepts may be widely used, legal protection only arises from recognised intellectual property rights, including duly registered trademarks and other enforceable proprietary interests.
It therefore rejected suggestions that any individual or organisation has exclusive ownership of the broader concept of an economic summit.
Court grants interim injunction
Addressing reports that the summit had been halted, NDCCITMA said the dispute is already before the Federal High Court in Port Harcourt and that there is no court order restraining the event.
The chamber disclosed that in Suit No. FHC/PHC/CS/57/2026, Justice Stephen Dalyop Pam granted an interim injunction restraining the defendants—Kunle Nwiwa Junior and Keneva Consult Ltd.—from interfering with the planned summit.
According to NDCCITMA, the court also directed the defendants to remove publications, notices, petitions, social media posts and other statements allegedly considered damaging to the chamber’s name, integrity and reputation pending the hearing of its motion for interlocutory injunction.
The matter has been adjourned until September 22, 2026 for further hearing.
Chamber rejects ₦500 million demand claim
NDCCITMA also alleged that it had received a demand from Nwiwa Junior requesting ₦500 million as a condition for abandoning his claims over the summit.
The chamber said the demand was rejected, adding that it subsequently petitioned the Inspector-General of Police over what it described as repeated harassment and threats directed at its officials.
It said the petition sought police intervention, including inviting the complainant for questioning and caution where necessary.
Summit opens September 15
Despite the legal dispute, NDCCITMA reaffirmed that the 2026 Niger Delta Economic & Investment Summit will hold from September 15 to 17, 2026, at the Obi Wali Conference Centre in Port Harcourt, Rivers State.
The summit will be held under the theme “Driving Investment, Innovation & Industrial Growth in the Niger Delta” and is expected to bring together policymakers, investors, business leaders, development partners and industry stakeholders to discuss economic transformation across the region.
The chamber said it remains committed to promoting commerce, industry, trade, mining, agriculture and sustainable economic development throughout the Niger Delta while allowing the courts to determine all outstanding legal issues.
Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth
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