Dangote Refinery resumes petrol loading in Naira at N1,215 per litre
Dangote Refinery resumes petrol loading in Naira at N1,215 per litre
•Filling stations adjust pricing as depots operate
By Udeme Akpan, Energy Editor
Dangote Petroleum Refinery has restarted gantry loading of Premium Motor Spirit (PMS), commonly referred to as petrol, in naira after a week's pause, eliminating the ambiguity in the downstream sector regarding its short-term move to dollar-based sales.
Investigations by Vanguard indicated that the refinery has established a new ex-depot (gantry) rate at N1,215 per litre, reflecting a rise of N140 per litre, which equates to 13.02 percent, compared to the earlier price of N1,075 per litre.
The uptick in the gantry price is closely tied to the substantial surge in global crude oil prices, which has escalated the expenses of refining petroleum products such as petrol, diesel, and aviation fuel, intensifying fears of additional fuel price hikes in Nigeria and other oil-importing nations.
Market statistics on Wednesday revealed that Brent crude, the global standard against which Nigeria’s oil is valued, increased by 3.18 percent to $93.90 per barrel, while West Texas Intermediate (WTI) climbed 2.74 percent to $86.65 per barrel.
This price adjustment is occurring as local petrol rates have already surged significantly due to the hikes in ex-depot prices by key suppliers, sparking concerns of further increases at pump stations.
The reinstatement of naira-based truck loading is anticipated to enhance product availability following disruptions caused by the previous suspension.
Industry insiders confirmed that marketers had received updates about the resumption of gantry operations, with loading poised to begin immediately under the new naira pricing framework.
The refinery’s return to naira sales for truck loading follows a period of uncertainty in the downstream petroleum sector after the suspension compelled numerous independent marketers to acquire products from private depots.
Prior to the cessation of product loading, Dangote Refinery cited difficulties in obtaining sufficient crude oil supplies through the Federal Government’s naira-for-crude initiative, leading to its temporary shift to dollar-based sales.
The refinery’s choice to go back to naira transactions is likely to alleviate supply issues in the inland market and enhance the overall distribution of petroleum products nationwide.
Already, on Wednesday, petrol prices at depots around Nigeria saw fresh hikes, while diesel prices surged significantly in various areas, indicating renewed cost challenges for fuel suppliers and transport companies.
Midday depot price figures for July 22, 2026, demonstrated that petrol depot rates rose across major supply centers, including Lagos, Port Harcourt, Warri, and Calabar, with some depot prices increasing by as much as N87 per litre.
The most significant increase was observed at Bulk Strategic Reserve in Lagos, where the ex-depot petrol price soared by N87 per litre to N1,350, up from N1,263.
This hike positions the depot among the priciest suppliers nationwide and could potentially affect retail pump prices if the increase continues.
Other depots in Lagos exhibited more moderate increases. Liquid Bulk, Masters Energy, Matrix, and Sigmund each elevated petrol prices by N15 to N17 per litre, reaching N1,280, while TSL did not provide a new pricing figure.
At the same time, new hikes in the petrol price—to an average of N1,350 per liter, up from N1,260 per liter, at fuel stations in Lagos and nearby areas—have escalated worries about the increasing living expenses, with many Nigerians anticipated to encounter greater transportation, food, and business expenses.
Investigations by Vanguard revealed that numerous retail stations revised their pump prices to a range of N1,300 per liter to N1,400 per liter after depot owners raised ex-depot prices, driving fuel costs to some of the highest points in recent times.
