The Dangote Petroleum Refinery has increased the ex-depot price of Premium Motor Spirit (PMS), popularly called petrol, from ₦820 to ₦850 per litre, sparking concerns over potential pump price hikes nationwide.
The 3.66 per cent rise comes as operations resumed on Thursday at the 650,000-barrels-per-day facility in the Lekki Free Trade Zone, Lagos, after a one-week suspension that rattled the downstream market. The refinery had earlier directed marketers to halt all PMS payments and loading pending further notice.
Though no official statement has been issued, industry sources attribute the price adjustment to fluctuations in global crude oil costs, noting that Dangote imports roughly half of its crude feedstock from the United States.
While petrol prices at major private depots have remained steady, diesel from the refinery continues to sell at ₦990 per litre—below the ₦1,030 average in other depots.
Commissioned in 2023 to curb fuel import dependence, the refinery has yet to dominate Nigeria’s supply. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority shows that between May and June 2025, 71.38 per cent of the country’s petrol was imported, with Dangote supplying 28.62 per cent.
The restart of loading has eased immediate supply concerns, but operators remain on alert amid volatile global crude prices.
