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The Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit, popularly known as petrol, after a one-week suspension, with a revised ex-depot price of N850 per litre, up from the previous rate of N820. This represents a 3.66 per cent or N30 increase in the ex-depot price, raising fresh concerns about potential hikes in pump prices across the country.
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The refinery had instructed marketers to halt all payments for PMS loading at its gantry, effectively freezing further allocations, before resuming sales with the new price. “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.”
Industry insiders attribute the price hike to fluctuations in global crude oil prices, noting that Dangote Refinery imports around 50 per cent of its crude feedstock from the United States, leaving it vulnerable to international market dynamics.
Despite the hike in petrol price, the refinery has maintained its competitive edge in diesel sales, offering Automotive Gas Oil at N990 per litre to bulk buyers. This figure remains significantly lower than the ₦1,030 average seen across private depots in Lagos and other regions.
The refinery’s decision to resume loading operations has brought temporary relief to marketers, many of whom had feared a prolonged disruption. However, some operators remain on edge, citing the unpredictability of crude pricing and a lack of transparency around the refinery’s supply protocols.
Meanwhile, fresh data from the downstream regulator of the oil sector revealed that marketers have resumed large-scale importation of refined petroleum products, choosing not to patronise local refineries. A staggering 71.38 per cent of Nigeria’s daily petrol consumption in May and June 2025 was met through imports, while the remaining 28.62 per cent was sourced from the Dangote Petroleum Refinery.
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Jonathan Nwokpor
