Dangote Petroleum Refinery has resumed gantry loading of Premium Motor Spirit, PMS, also known as petrol, in naira after a week-long suspension, raising its ex-depot price to N1,215 per litre from N1,075 per litre.
The revised price represents an increase of N140 per litre, or 13.02 per cent, and ends uncertainty in the downstream petroleum sector following the refinery’s temporary shift to dollar-denominated sales.
The resumption of naira-denominated truck loading is also expected to improve product availability after supply disruptions caused by the suspension.
The refinery attributed the price increase to rising global crude oil prices, which have increased the cost of producing refined petroleum products, including petrol, diesel and aviation fuel.
Market data on Wednesday showed that Brent crude, the international benchmark against which Nigeria’s crude is priced, climbed 3.18 per cent to $93.90 per barrel, while West Texas Intermediate rose 2.74 per cent to $86.65 per barrel.
Industry sources said marketers had been notified of the resumption of gantry operations, with truck loading expected to begin immediately under the revised naira pricing structure.
The development comes less than 24 hours after the 650,000-barrels-per-day refinery resumed coastal loading of petrol at a higher price.
Checks showed the refinery increased its coastal loading price to $1,161.23 per metric tonne, up from $1,044.62 per metric tonne, representing an 11.2 per cent increase.
The return to naira pricing follows several days of uncertainty in the downstream market after the suspension forced many independent marketers to source products from private depots.
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The disruption tightened supply and pushed ex-depot petrol prices in Lagos to as high as N1,275 per litre, compared with Dangote Refinery’s previous gantry price of N1,075 per litre before sales were suspended.
Before halting product loading, Dangote Refinery said the suspension was caused by challenges in securing adequate crude oil supplies under the Federal Government’s naira-for-crude initiative, prompting a temporary switch to dollar-denominated sales.
The refinery’s decision to restore naira transactions is expected to ease supply constraints in the inland market and improve the nationwide distribution of petroleum products.
Meanwhile, petrol and diesel prices at depots across Nigeria recorded fresh increases on Wednesday, reflecting renewed cost pressures for fuel marketers and transport operators.
Mid-day depot price data for July 22, 2026, showed petrol prices rising across major supply hubs, including Lagos, Port Harcourt, Warri and Calabar, with some depots increasing prices by as much as N87 per litre.
The sharpest increase was recorded at Bulk Strategic Reserve in Lagos, where the ex-depot petrol price rose to N1,350 from N1,263.
Other Lagos depots also adjusted their prices upward. Liquid Bulk, Masters Energy, Matrix and Sigmund increased petrol prices by between N15 and N17 per litre while TSL did not quote a new price.
Retail pump prices also rose across Lagos and surrounding areas, averaging N1,350 per litre, up from N1,260 per litre.
Several filling stations also increased pump prices to between N1,300 and N1,400 per litre following higher ex-depot prices, a development that could further increase transportation, food and business costs if sustained.
Vanguard
