Dangote Refinery Resumes Petrol Sales with New Price of N850/Litre After One-Week Halt

Dangote Petroleum Refinery has restarted Premium Motor Spirit (petrol) sales after a one-week suspension, implementing a new ex-depot price of N850 per litre – a N30 (3.66%) increase from the previous N820. The adjustment, effective Thursday, was tracked on industry platform petroleumprice.ng as loading activities resumed at the 650,000-barrels-per-day Lekki facility.

Last week, the refinery abruptly halted sales, issuing an internal memo titled “Important Update on DPRP Collection Account for PMS”, which instructed marketers to “place all PMS gantry payments on hold”. The suspension triggered market uncertainty, but operations have now resumed with the higher price, signaling potential nationwide pump price hikes.

While Dangote Refinery has not publicly commented on the increase, industry sources attribute it to global crude oil price fluctuations. The facility reportedly imports 50% of its crude feedstock from the U.S., exposing it to international market volatility.

Despite the petrol price hike, the refinery maintains a competitive edge in diesel, selling Automotive Gas Oil at N990/litre to bulk buyers – below the N1,030 average at other private depots. Checks by The PUNCH confirmed diesel prices elsewhere range between N1,010–N1,050/litre.

Marketers Still Favor Imports Over Local Refinery

Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority reveals that 71.38% of Nigeria’s petrol consumption in May–June 2025 was imported, with only 28.62% sourced from Dangote Refinery. This trend persists despite the refinery’s $20 billion investment aimed at reducing import dependence.

Depot Prices Show Minimal Fluctuations

Post-resumption, most Lagos depots maintained stable ex-depot prices:

• N855/litre: Pinnacle, Aiteo, MRS Tincan (↓N5)

• N859/litre: Zamsom, Parker, A&E (↓N3)

• N860/litre: Nipco, Matrix Warri, Prudent (unchanged)

Port Harcourt/Warri terminals saw slight declines:

• N872/litre: TSL (↓N10), Ever (↓N8)

• N875/litre: Sigmund (↓N5), Masters (↓N4)

The refinery’s expansion to 700,000 bpd capacity was expected to stabilize Nigeria’s fuel market, but recent developments highlight ongoing challenges in achieving consistent local supply.