Another Petrol Price Hike Looms as Dangote Refinery Suspends Loading
- The Dangote Petroleum Refinery has suspended the loading of petrol at its facility
- Previous pauses in petrol loading at the refinery have sometimes preceded price adjustments
- Marketers and depot operators are monitoring the situation for possible changes to petrol pricing
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
The Dangote Petroleum Refinery has reportedly suspended the sales and loading of Premium Motor Spirit (PMS), commonly known as petrol at its facility.
Source: Getty Images
As reported by petroleumprice.ng, this development has triggered fresh speculation in Nigeria’s downstream petroleum market about a potential adjustment to the refinery’s ex-depot price.
According to industry sources, truck-out activities for petrol were suspended around 2:00 a.m. on Friday, leaving marketers and depot operators awaiting the refinery’s next pricing decision.
Marketers anticipate price hike
Market participants say the development has drawn attention because previous pauses in petrol loading at the facility have sometimes been followed by price revisions.
Recall that a few days ago, the Dangote refinery raised its petrol ex-depot price by over N100 per litre. The price adjustment from N774 to N874 per litre followed a surge in Brent crude oil price to about $80 per barrel.
Filling stations are now selling above N1,000 while analysts say the price may still rise in the coming days.
Latest development at Dangote refinery
Checks by Petroleumprice.ng indicated that the Dangote refinery had earlier loaded a limited number of trucks for outlets operated by NNPC Retail on Thursday before broader loading activities were halted overnight.
The suspension has introduced uncertainty across the downstream sector, with depot operators and fuel distributors closely monitoring supply levels and possible changes to the pricing template.
Industry watchers noted that the refinery’s pricing decisions often influence petrol supply patterns and market expectations across the country.
For now, traders and marketers say they are watching closely for the refinery’s next announcement to determine whether the halt in loading operations will lead to a revision of petrol prices in the domestic market.
Dangote refinery to prioritise Nigeria’s supply
Meanwhile, the Dangote refinery has assured Nigerians that it will focus on supplying the domestic market despite the volatility in global energy markets triggered by the ongoing Middle East conflict.
In a statement issued on Thursday, March 5, 2026, the company said the crisis has disrupted refinery operations in parts of the region, cutting global refining output and tightening the supply of petroleum products worldwide.
It also noted that China has suspended exports of gasoline and diesel, a move that has further strained global fuel availability. However, the Dangote refinery said Nigeria would be protected from the worst of the supply pressure because local production would prioritise the domestic market.
Source: UGC
The refinery added that the conflict has driven up both crude oil and shipping costs, pushing global fuel prices higher. Brent crude prices, it said, have risen sharply as fears over supply disruptions intensified.
It disclosed that the spike in crude and freight costs pushed Brent prices up by roughly 26 per cent to above $84 per barrel. As a result, it adjusted the ex-depot price of Premium Motor Spirit by N100 per litre, about a 12 per cent increase, while absorbing roughly 20 per cent of the additional cost to limit the impact on Nigerian consumers.
Dangote refinery suspends loading of diesel
Earlier, Legit.ng reported that the Dangote Refinery suspended diesel loading and sales, raising concerns among fuel marketers.
As a result of the suspension, depot operators across Lagos increased diesel prices to about N1,200 per litre on March 5, 2026.
The new prices represent roughly a 12% increase compared with the previous day’s average depot rates.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
