Petrol returns to naira pricing as Dangote raises depot price by ₦140/litre.

Dangote Resumes Naira Fuel Sales, Raises Depot Price to ₦1,215 Per Litre
Dangote Petroleum Refinery has resumed gantry loading of Premium Motor Spirit (PMS), popularly known as petrol, in naira after suspending the practice for one week, bringing an end to uncertainty in the downstream petroleum sector over its temporary switch to dollar-denominated sales.

However, the refinery has increased its ex-depot (gantry) price to ₦1,215 per litre, representing a ₦140 or 13.02 per cent increase from the previous ₦1,075 per litre.
The price adjustment follows a sharp rise in global crude oil prices, which has increased the cost of producing refined petroleum products, including petrol, diesel and aviation fuel. Market data showed Brent crude rose by 3.18 per cent to $93.90 per barrel, while West Texas Intermediate (WTI) gained 2.74 per cent to $86.65 per barrel. The increase also comes as domestic petrol prices continue to rise following higher ex-depot prices from major suppliers, raising concerns over another round of pump price increases.
Industry sources confirmed that marketers have been informed of the resumption of gantry operations, with loading set to commence immediately under the revised naira pricing structure. The development comes barely 24 hours after the 650,000 barrels-per-day refinery resumed coastal loading of petrol at a higher price, increasing its coastal loading rate to $1,161.23 per metric tonne from $1,044.62, an 11.2 per cent increase.
The refinery had earlier suspended truck loading in naira, citing challenges in securing adequate crude oil supplies under the Federal Government’s naira-for-crude initiative, forcing many independent marketers to source products from private depots. The disruption tightened supply and pushed ex-depot prices in Lagos to as high as ₦1,275 per litre, compared to Dangote’s previous gantry price of ₦1,075 per litre.
The return to naira transactions is expected to improve product availability and ease supply constraints in the inland market. Nevertheless, depot prices across the country recorded fresh increases on Wednesday, with petrol prices rising across Lagos, Port Harcourt, Warri and Calabar. Bulk Strategic Reserve in Lagos recorded the highest increase, with its ex-depot price climbing by ₦87 to ₦1,350 per litre, while other depots including Liquid Bulk, Masters Energy, Matrix and Sigmund raised prices to about ₦1,280 per litre.
Meanwhile, retail petrol prices have also risen sharply, averaging about ₦1,350 per litre from ₦1,260 across filling stations in Lagos and surrounding areas. Several outlets now sell between ₦1,300 and ₦1,400 per litre, raising fresh concerns over the rising cost of transportation, food and other business activities for millions of Nigerians.