Dangote Refinery Resumes Petrol Loading Amid Price Surge

Dangote Petroleum Refinery has resumed loading Premium Motor Spirit (PMS), also known as petrol, onto trucks for oil marketers after a temporary halt due to currency-related challenges.

The refinery, which processes 650,000 barrels per day, had earlier stopped naira-based loading following the suspension of the naira-for-crude program, rising crude oil prices, and forex fluctuations. However, loading by ships on a dollar basis continued, with the $20 billion refinery requiring oil marketers to “top up” payments before receiving petrol.

Checks indicate that companies, including MRS Oil & Gas, that complied with the payment adjustments are being loaded at N880 per litre. New fuel prices, effective from March 28, 2025, show significant increases nationwide. In Lagos, petrol now sells for N930 per litre, while states in the South-West, including Ogun, Oyo, Osun, Ekiti, Kwara, and Ondo, are paying N940 per litre. In the South-South and South-East regions, including Edo, Abia, Akwa Ibom, Bayelsa, Rivers, Cross River, and Enugu, the price has risen to N960 per litre. Abuja, Kaduna, Benue, Kogi, Niger, Sokoto, Kebbi, and Nasarawa are paying N950 per litre, while northern states such as Zamfara, Kano, Jos, Bauchi, Taraba, Adamawa, Borno, Katsina, Jigawa, Gombe, and Yobe are experiencing the highest rates at N960 per litre.

The naira-for-crude scheme was introduced to stabilize domestic fuel supply, curb import costs, and regulate pump prices. Since October 2024, Dangote Refinery has received 48 million barrels of crude in naira, bringing its total supply to 84 million barrels since operations began in 2023. In a statement on its website, Dangote Petroleum Refinery reaffirmed its commitment to meeting 100 percent of Nigeria’s refined product demand while maintaining a surplus for export. The refinery is projected to generate a $21 billion annual market for Nigerian crude and has the capability to refine various crude types.