The Dangote Petroleum Refinery has resumed sales of Premium Motor Spirit (PMS) after halting supply for a week, introducing a revised ex-depot price of ₦850 per litre—₦30 higher than its previous ₦820 rate.

The new price, reflecting a 3.66% increase, took effect on Thursday as loading operations restarted at the 650,000 barrels-per-day facility in the Lekki Free Trade Zone, Lagos. Industry watchers warn the adjustment could push pump prices upward nationwide in the coming days.

Last week, the refinery had directed marketers to suspend payments for petrol loading, creating uncertainty across the downstream sector and fuelling price volatility. While no official explanation accompanied the resumption, sources link the hike to global crude price fluctuations. Dangote reportedly imports about half of its crude feedstock from the United States, making its operations sensitive to international market trends.

Despite the petrol price increase, Dangote has kept its diesel rates attractive, selling Automotive Gas Oil to bulk buyers at ₦990 per litre—lower than the ₦1,030 average in private depots across Lagos and other regions.

Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority shows that imports still dominate Nigeria’s petrol supply. Between May and June 2025, 71.38% of daily consumption was met through imports, with Dangote’s refinery covering only 28.62%.

Market checks indicate ex-depot prices in Lagos remain within the ₦855–₦860 range at most private depots, with minimal fluctuations since the Dangote adjustment. Some depots in Port Harcourt and Warri have slightly reduced their rates, signalling cautious trading as the market reacts to the new development.

Commissioned in 2023 and currently expanding its capacity to 700,000 barrels per day, the $20 billion refinery was envisioned as a game changer for Nigeria’s fuel supply. However, recent events show that achieving full stability in the sector remains a work in progress.