Dangote Refinery Stall Sparks Fresh Fuel Shock, Petrol May Hit ₦1,400/Litre

Petrol prices across Nigeria may climb to ₦1,400 per litre as uncertainty deepens in the downstream sector following a halt in petrol loading at the Dangote Petroleum Refinery & Petrochemicals in Lekki, Lagos.

Industry sources say the refinery recently suspended the loading of Premium Motor Spirit (PMS), leaving fuel marketers awaiting a revised pricing template amid rising global crude oil prices and supply concerns.

The development has triggered anxiety across the fuel distribution chain. Depot owners and independent marketers warn that pump prices could spike sharply if the refinery adjusts its ex-depot price upward as retail prices could approach ₦1,400 per litre, depending on logistics costs, exchange rate fluctuations and marketers’ margins.

The refinery had earlier raised its gantry price from ₦774 to ₦874 per litre, and later to about ₦995 per litre within days, citing volatility in global crude prices and increased shipping costs.

The temporary suspension of product loading often precedes a price recalibration, as refiners adjust rates to reflect global market realities. With Brent crude trading above $80 per barrel, pressure is mounting on domestic petrol pricing.

Already, several filling stations have adjusted pump prices to between ₦960 and ₦975 per litre, signalling early reactions to the refinery’s price movements.

Unless crude supply improves and exchange-rate pressures ease, the downstream sector may experience further price volatility in the coming weeks, with motorists likely to feel the impact through higher pump prices.

For now, marketers remain on standby awaiting a fresh pricing directive from the refinery before resuming large-scale petrol lifting.