The Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS), commonly known as petrol, after a one-week suspension, with a revised ex-depot price of ₦850 per litre up from the previous ₦820.
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This represents a 3.66 per cent or ₦30 increase, raising fresh concerns about potential hikes in pump prices across the country. The new price, tracked via industry platform PetroleumPrice.ng, took effect on Thursday as loading activities resumed at the 650,000-barrels-per-day facility located in the Lekki Free Trade Zone, Lagos.
TheNigerialawyer had last week reported a sudden halt in petrol sales at the multi-billion-dollar refinery, a move that created uncertainty across the downstream market and triggered nationwide price volatility.
In a notice titled “Important Update on DPRP Collection Account for PMS”, the Dangote Refinery had instructed marketers to halt all payments for PMS loading at its gantry, effectively freezing allocations. “Please be advised that, effective immediately, all payments to the DPRP collection account for PMS gantry should be placed on hold,” the internal memo read. “Further updates will be communicated shortly.”
However, with the resumption of sales after a week-long pause, the refinery increased its loading cost to ₦850 per litre, indicating a likely nationwide pump price increase next week.
Although no public statement has been issued on the hike, industry insiders attribute the move to fluctuations in global crude oil prices. The refinery reportedly imports around 50 per cent of its crude feedstock from the United States, making it susceptible to international market dynamics.
Despite the increase in petrol prices, the refinery has maintained its competitive edge in diesel sales, offering Automotive Gas Oil at ₦990 per litre to bulk buyers—significantly lower than the ₦1,030 average across private depots in Lagos and beyond.
Checks on Thursday confirmed that diesel continues to retail between ₦1,010 and ₦1,050 per litre at other private terminals, reinforcing Dangote’s advantage in the diesel segment.
The refinery’s decision to resume loading operations has brought temporary relief to marketers, many of whom feared a prolonged disruption. However, some operators remain on edge, citing crude price unpredictability and a lack of transparency around the refinery’s supply protocols.
Commissioned in 2023 and currently undergoing expansion from 650,000 barrels per day to 700,000 bpd, the Dangote Refinery was expected to stabilise Nigeria’s downstream sector and reduce import dependency. However, recent developments suggest the road to full operational consistency may still lie ahead.
Fresh data from the downstream regulator shows marketers have resumed large-scale importation of refined petroleum products, opting not to patronise local refineries.
Findings on the latest fuel supply data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, reveal that a staggering 71.38 per cent of Nigeria’s daily petrol consumption in May and June 2025 was met through imports.
The remaining 28.62 per cent was sourced from the $20 billion Lekki-based Dangote Refinery indicating that marketers are still spending scarce foreign exchange on imports despite the availability of local supply.
Meanwhile, the ex-depot price of petrol has largely stabilised across major private depots nationwide, despite Dangote’s 3.66 per cent upward adjustment to ₦850 per litre.
Market data monitored on PetroleumPrice.ng showed that prices at most Lagos depots hovered between ₦855 and ₦860 per litre, with only minimal changes from previous sessions.
At Pinnacle, Aiteo, and MRS Tincan depots, petrol was sold at ₦855 per litre, reflecting a marginal decline of ₦5 or 0.58 per cent. Similarly, Zamsom, Parker, and A&E reported prices of ₦859, showing a slight drop of between ₦3 and 0.35 per cent.
Depot operators such as Nipco Lagos, Matrix Warri, and Prudent Lagos maintained prices at ₦860 with no visible change, indicating a wait-and-see approach following Dangote’s price review.
A separate check around Port Harcourt and Warri terminals revealed slight downward corrections. For instance, TSL and Ever posted prices of ₦872 per litre down ₦10 (1.13 per cent) and ₦8 (0.91 per cent) respectively. Sigmund and Masters sold at ₦875, shedding ₦5 and ₦4 compared to their previous trading levels.
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