Exclusive: Dangote Refinery Resumes Petrol Sales at Higher Price

The Dangote Petroleum Refinery has restarted sales of Premium Motor Spirit (PMS), commonly called petrol, after a one-week suspension but at a higher ex-depot price of ₦850 per litre, up from ₦820.

Also Read: Fuel Price Reduces to ₦750 as Local Refineries Boost Supply

This 3.66% hike has sparked fresh fears of a possible nationwide increase in pump prices in the coming days.

According to industry tracker Petroleum priceng, the new rate took effect on Thursday when the 650,000-barrels-per-day facility resumed loading operations. The previous halt had unsettled Nigeria’s downstream petroleum sector, triggering supply disruptions and price volatility.

The suspension was linked to an internal directive titled “Important Update on DPRP Collection Account for PMS”, which instructed marketers to stop all payments to the refinery’s gantry account, a move that abruptly paused fuel loading. Operations resumed this week, though the Dangote Group has yet to officially comment on the price adjustment.

Industry experts believe the increase is tied to global market shifts, as the refinery sources nearly half of its crude from the United States, leaving it vulnerable to international oil price fluctuations.

Rising Competition in the Market

In recent months, Dangote’s pricing strategy, which once forced competitors to lower rates, has faced pushback. Importers like Aiteo and Menj recently offered depot rates as low as ₦815, undercutting Dangote’s ₦820 and even the NNPC’s ₦825.

Independent Petroleum Marketers Association of Nigeria (IPMAN) spokesperson, Chinedu Ukadike, confirmed the trend, noting that some depots now sell at ₦815 or ₦817, while Dangote-linked retailers such as MRS and Heyden still maintain pump prices between ₦865 and ₦875 in Lagos and Ogun states.

Fuel Imports Surge

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reports a sharp rise in fuel imports, further complicating the market.

Data submitted to the Federation Accounts Allocation Committee (FAAC) shows imports accounted for 71.38% of daily petrol consumption in May and June 2025, while the Dangote refinery supplied just 28.62%.