The Dangote Petroleum Refinery has increased its ex-depot price for Premium Motor Spirit (PMS), commonly known as petrol, to ₦850 per litre, a 3.66% increase from its previous price of ₦820. This change follows a one-week suspension of sales and has raised concerns about a potential rise in pump prices across the country.
Operations at the 650,000-barrels-per-day facility in the Lekki Free Trade Zone, Lagos, resumed on Thursday after a pause that had unsettled the downstream market. Industry insiders have linked the price change to fluctuations in global crude oil costs, as the refinery imports a significant portion of its crude from the United States.
While the new petrol price has garnered attention, the refinery’s diesel still sells for ₦990 per litre, which is lower than the average of ₦1,030 at other depots.
Despite the refinery’s commissioning in 2023 with the goal of reducing Nigeria’s reliance on imports, new data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority shows that imported petrol still makes up the majority of the nation’s supply. In May and June 2025, imports accounted for 71.38% of the country’s petrol, with Dangote providing the remaining 28.62%.
The resumption of loading at the refinery has temporarily eased supply concerns, but market operators remain vigilant amid ongoing crude price volatility.
