Dangote Petroleum Refinery has resumed gantry loading of Premium Motor Spirit (PMS), also known as petrol, in naira after a one-week suspension, easing uncertainty in the downstream sector over its temporary switch to dollar-denominated sales.
Checks showed the refinery has set a new ex-depot (gantry) price of ₦1,215 per litre, representing an increase of ₦140 per litre, or 13.02 per cent, from the previous price of ₦1,075 per litre.
The price adjustment follows a sharp rally in global crude oil prices, which has increased the cost of producing refined petroleum products, including petrol, diesel and aviation fuel, raising concerns over fresh fuel price hikes in Nigeria and other oil-importing countries.
Market data on Wednesday showed that Brent crude, the international benchmark for Nigeria’s oil, rose 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 climb following higher ex-depot prices by major suppliers, fuelling fears of another round of pump price increases across the country.
The resumption of naira-denominated truck loading is expected to improve product availability after supply disruptions caused by the temporary suspension.
Industry sources confirmed that marketers had been notified of the resumption of gantry operations, with loading set to begin immediately under the revised naira pricing structure.
Dangote Refinery’s return to naira sales follows days of uncertainty in the downstream market after the suspension forced many independent marketers to source products from private depots.
Before suspending truck loading, the refinery attributed the decision to challenges in securing sufficient crude oil supplies under the Federal Government’s naira-for-crude initiative, prompting its temporary shift to dollar-denominated sales.
The restoration of naira transactions is expected to ease supply constraints and improve the nationwide distribution of petroleum products.
Meanwhile, depot prices for petrol and diesel rose sharply across the country on Wednesday, signalling renewed cost pressures for marketers and transport operators.
Midday depot price data for July 22, 2026, showed petrol prices increased across major supply hubs, including Lagos, Port Harcourt, Warri and Calabar, with some depots raising prices by as much as ₦87 per litre.
The biggest increase was recorded at Bulk Strategic Reserve in Lagos, where the ex-depot price climbed from ₦1,263 to ₦1,350 per litre.
Other Lagos depots, including Liquid Bulk, Masters Energy, Matrix and Sigmund, also raised petrol prices by between ₦15 and ₦17 per litre to ₦1,280, while TSL did not announce a new price.
Retail pump prices have also increased, averaging ₦1,350 per litre, up from ₦1,260 per litre, across filling stations in Lagos and surrounding areas.
Checks showed several filling stations adjusted their prices to between ₦1,300 and ₦1,400 per litre following the latest ex-depot price increases, heightening concerns over rising transportation, food and business costs.
