Dangote Refinery Reopens Naira Petrol Sales, Raises Ex Depot Price By N140 Per Litre

The Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS), popularly known as petrol, in naira after briefly switching to dollar denominated transactions, but the return comes with a fresh increase in its ex depot price.

The refinery fixed its new ex depot price at N1,215 per litre, representing a N140 increase from the previous rate of N1,075 per litre, an adjustment that could trigger further changes in petrol prices across filling stations nationwide.

The development followed a temporary suspension of gantry and coastal loading operations by the refinery, after it introduced dollar based pricing for refined petroleum products, including petrol, diesel and aviation fuel.

The dollar pricing arrangement had generated concerns among petroleum marketers, who warned that sourcing foreign exchange for daily fuel transactions could increase operating costs and place additional pressure on consumers.

Following the temporary suspension, many marketers turned to private depots, leading to a rise in depot prices as available fuel volumes tightened in the market. Reports indicated that ex depot petrol prices at some private depots climbed to about N1,275 per litre during the period.

Industry sources linked the latest price adjustment to rising international crude oil prices, which have increased the cost of producing refined petroleum products.

The increase comes amid concerns that the new ex depot price may affect retail pump prices, as marketers factor in transportation, logistics and other operational costs before selling to consumers.

Petrol prices have already witnessed upward movement in some parts of the country, with reports indicating that some filling stations adjusted their pump prices following the latest development from the refinery.

The Dangote Refinery’s decision to return to naira transactions is expected to provide some relief to marketers who had raised concerns about foreign exchange availability, but the higher ex depot price remains a major issue for consumers and businesses dependent on petrol.

The refinery, which began producing petrol for the Nigerian market in 2024, has become a major player in the country’s downstream petroleum sector, with its operations closely watched because of its impact on fuel supply and pricing.

ADVERTISE WITH US

Do you want to reach your targeted audience and expand your brand’s visibility?

Advertise with Polity Reporters to place your “message” before the right audience.

For advertising enquiries, reach us through:

Email: bandcommunications001@gmail.com

Facebook: Polity Reporters

WhatsApp: 07043810558

“Journalism is what we need to make democracy work.”

“News is what somebody somewhere wants to suppress; all the rest is advertising.”

“Journalism can never be silent: that is its greatest virtue and its greatest fault.”

“The duty of a journalist is to convey the truth as clearly and fully as possible.”

“Good journalism is about results. It is about affecting your community or your society in the most progressive way.”

“Journalism is printing what someone else does not want printed; everything else is public relations.”

“A free press is not a privilege but an organic necessity in a great society.”

“The press was to serve the governed, not the governors.”

“Journalism without a moral position is impossible.”

“The function of journalism is to comfort the afflicted and afflict the comfortable.”

Polity Reporters

Polity Reporters brings you news from Nigeria and around the world. The team follows developments closely and reports in a way that helps readers understand what is happening locally and internationally. Every piece is clear, reliable, and useful for anyone who wants to stay informed.