The Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS), commonly known as petrol, after a week-long suspension with a revised ex-depot price of ₦850 per litre.
The updated rate reflects a 3.66 percent increase from the previous ₦820 per litre and took effect Thursday, August 7, 2025.
This adjustment follows an operational pause that began last week when the refinery instructed marketers to halt payments for PMS loading at its gantry.
In a memo titled “Important Update on DPRP Collection Account for PMS”, Dangote Refinery directed all marketers to suspend transactions until further notice, effectively freezing petrol allocation and disrupting downstream supply.
The resumed loading activities at the 650,000 barrels-per-day facility, located within the Lekki Free Trade Zone, have eased immediate supply concerns among marketers.
However, the new price level has triggered speculation over potential pump price increases across retail outlets nationwide.
Industry data from petroleumprice.ng confirms the new ex-depot price of ₦850 per litre. Despite this upward adjustment, most private depots have maintained relatively stable price points with transactions ranging between ₦855 and ₦860 per litre in Lagos and other coastal terminals.
Petrol sales at Pinnacle, Aiteo, and MRS Tincan terminals were recorded at ₦855 per litre, reflecting a marginal decrease of ₦5 or 0.58 percent. Zamsom, Parker, and A&E sold at ₦859 per litre, representing declines of ₦3 or 0.35 percent.
Nipco Lagos, Matrix Warri, and Prudent Lagos sustained flat pricing at ₦860 per litre, showing no immediate reaction to Dangote’s revised rate.
In Port Harcourt and Warri, minor downward corrections were observed. TSL and Ever sold at ₦872 per litre, down ₦10 and ₦8, respectively. Sigmund and Masters sold at ₦875, reflecting marginal day-on-day reductions.
Although Dangote Refinery has not issued an official statement explaining the price increase, market sources attribute the decision to rising international crude oil prices.
The refinery reportedly sources approximately 50 percent of its crude feedstock from the United States, making its pricing structure sensitive to global market fluctuations.
Despite the petrol price increase, the refinery continues to offer diesel (Automotive Gas Oil) at ₦990 per litre to bulk buyers.
This remains below the average ₦1,030 per litre reported at other private depots, maintaining the refinery’s pricing advantage in the diesel segment.
The Dangote Refinery, commissioned in 2023 and currently undergoing expansion to reach 700,000 barrels per day, was expected to reduce Nigeria’s dependence on imported refined products.
However, recent developments indicate challenges in achieving consistent supply and price stability.
Recent data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reveals that 71.38 percent of Nigeria’s daily petrol consumption for May and June 2025 was met through imports.
Only 28.62 percent was supplied by the Dangote facility, underscoring the ongoing reliance on foreign refined products despite domestic refining capacity.
Market operators remain cautious as they assess the implications of Dangote’s pricing policy on downstream dynamics and consumer pump prices.
Analysts warn that without a predictable pricing structure and improved domestic supply penetration, the volatility in the petroleum product market may persist.