Nigeria’s Dangote Petroleum Refinery has announced a N100 increase in its Premium Motor Spirit (PMS) gantry price, elevating the ex-depot cost from N774 to N874 per litre. This change could lead to further adjustments in fuel prices across the country.
A high-ranking official from the refinery confirmed the revised pricing, explaining that the increase was influenced by the recent upsurge in global crude oil prices and higher costs associated with replacements.
"Indeed, the price has been modified. The updated gantry price stands at N874 per litre, up from N774. This review was necessary given the fluctuations in global crude oil markets and rising replacement expenses," the official stated.
The price adjustment coincides with international crude oil prices exceeding $80 per barrel, resulting in the refinery temporarily halting petrol loading operations from midnight on March 2, 2026. This suspension has led to an impact on petrol supply and the issuance of proforma invoices, although loading and production of diesel have proceeded without any interruptions.
Local fuel pricing monitoring platforms have already begun to show this new price, which may indicate upcoming adjustments in the downstream market that could push retail petrol prices even higher nationwide.
This development is already affecting Nigeria's downstream sector, as certain private depot operators have reportedly suspended petrol sales during trading periods while awaiting more stable pricing signals.
Additionally, legal disputes between the refinery and the Nigerian National Petroleum Company Limited, along with other parties, concerning a ₦100 billion lawsuit, have been postponed until November 5, 2026, as the legal contest regarding industry and regulatory issues continues.
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