Dangote Refinery Restores Naira Petrol Loading as Ex-Depot Price Rises to ₦1,215/Litre

Dangote Petroleum Refinery has resumed loading petrol in naira after suspending the practice for one week, bringing relief to marketers following uncertainty created by its temporary move to dollar-denominated sales.

The refinery has also announced a new ex-depot price of ₦1,215 per litre for Premium Motor Spirit (PMS), an increase of ₦140, or 13.02 per cent, from the previous ₦1,075 per litre.

The price adjustment follows a surge in international crude oil prices, which has increased refining costs globally.

According to market data released on Wednesday, Brent crude traded at $93.90 per barrel, up 3.18 per cent, while WTI crude gained 2.74 per cent to reach $86.65 per barrel.

The refinery’s return to naira transactions is expected to improve product availability after many independent marketers were forced to rely on private depots during the suspension.

Before halting naira sales, Dangote Refinery said difficulties in accessing adequate crude supplies under the Federal Government’s naira-for-crude policy prompted the temporary shift to dollar sales.

Industry sources said petroleum marketers have already been notified that truck loading has resumed under the revised pricing arrangement.

Despite the resumption, fuel prices continue to trend upward across the country.

Latest depot data show that petrol prices increased at major depots in Lagos, Port Harcourt, Warri and Calabar, with the sharpest adjustment recorded at Bulk Strategic Reserve in Lagos, where the ex-depot price climbed to ₦1,350 per litre from ₦1,263.

Other suppliers, including Liquid Bulk, Masters Energy, Matrix and Sigmund, also raised prices by between ₦15 and ₦17 per litre, while TSL did not publish a fresh price.

The increases have filtered into the retail market, where filling stations across Lagos and surrounding areas now sell petrol for between ₦1,300 and ₦1,400 per litre, with the average pump price reaching about ₦1,350 per litre.

The latest price movements have heightened concerns over rising transportation costs, inflationary pressures and the overall cost of living for Nigerians.

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