The Dangote Petroleum Refinery has implemented a N100 increase in the gantry price of Premium Motor Spirit (PMS), raising the ex-depot rate from N774 to N874 per litre.
This adjustment, confirmed by senior refinery officials on Monday, has sparked fresh concerns regarding a potential nationwide surge in retail fuel prices.
The management cited the recent turbulence in global crude oil markets and rising replacement costs as the primary drivers behind the fiscal review.
The price hike coincided with a temporary suspension of petrol loading operations, which took effect at midnight on March 2, 2026.
This operational pause followed a significant rally in international crude prices, which climbed above $80 per barrel overnight.
While the suspension specifically targeted petrol loading and the issuance of proforma invoices, the refinery maintained that the loading of Automotive Gas Oil (diesel) remained unaffected and continued without interruption.
This shift in pricing benchmarks has already begun to vibrate through Nigeria’s downstream sector.
Data from industry platforms indicate that several private depot owners halted petrol sales during the trading day to account for the new market realities. Operators noted that the crude rally forced a re-evaluation of risk premiums, as selling below the current replacement cost would be unsustainable in the present economic climate.
