No Light, Higher Fuel: Nigerians Feel the Pinch as Dangote Refinery Revises Rates

Nigerians are facing heightened challenges as widespread power outages continue across several states, forcing residents and businesses to seek alternative sources of electricity. The strain on daily activities has now been compounded by another spike in fuel prices, with Dangote Refinery announcing an increase in its pump price from N1,175 to N1,245 per liter. This marks the fourth fuel price hike in March 2026, following escalating geopolitical tensions in the Middle East.

In a circular to marketers issued on Friday, the 650,000-barrel-per-day refinery explained that the adjustment was due to rising crude oil prices, with Brent and West Texas Intermediate crude climbing to $112 and $98 per barrel, respectively. The new price is set to take effect from Saturday, 21st March 2026.

Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Natural Oil and Gas Suppliers Association of Nigeria (NOGAS), confirmed the hike, noting that the development is expected to ripple through transport, logistics, and small-scale businesses nationwide.

Residents expressed their frustrations, saying that the combination of unreliable electricity and rising fuel costs is straining household budgets and slowing economic activity. “We already spend a lot on generators due to the blackouts, and now the petrol price has shot up. It’s becoming harder to manage daily commuting and business operations,” said one commuter in Lagos.

Analysts warn that with ongoing power shortages and global oil price volatility, Nigerians may continue to face rising living costs unless interventions are made by both the government and energy sector stakeholders.