Dangote Petroleum Refinery has resumed gantry loading of Premium Motor Spirit (PMS), also known as petrol, in naira after a week suspension, ending uncertainty in the downstream sector over its temporary shift to dollar-denominated sales.
The Gantry price is fixed at N1, 215/ litre. The reversal coming on the heels of a rising international crude oil price, the company said, provides a measure of relief to marketers and consumers in the country. Yesterday, Bent crude traded at $95 per barrel.
Recall that about a week ago, the refinery shifted its product pricing structure from Naira to U.S. dollars, setting the ex-depot price for petrol at $0.779 per litre, diesel at $1.087 per litre, and aviation fuel at $0.942 per litre.
The National President, Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, hailed the reversal to naira sales, describing it as a welcome development. “We lamented the effect of the sale in dollars, now we are happy that the Dangote Refinery management has listened to us. It is a welcome development for us marketers and for Nigerians,” Maigandi said.
The IPMAN President assured that immediately loading at the new price commences at the refinery, then marketers will reflect it at the retail end by way of reduction in pump price. “We do not take joy in high prices and hardship for Nigerians. Once we load at the new price from Dangote Refinery, then we will also reduce the price per litre,” he said.
The resumption of naira-denominated truck loading is expected to improve product availability after supply disruptions caused by the suspension. Industry sources confirmed that marketers had been notified of the resumption of gantry operations, with loading set to commence immediately under the revised naira pricing structure.
Before halting product loading, Dangote Refinery attributed the suspension to challenges in securing adequate crude oil supplies under the Federal Government’s naira-for-crude initiative, prompting its temporary switch to dollar-denominated sales.
The refinery’s decision to restore naira transactions is expected to ease supply constraints in the inland market and improve the nationwide distribution of petroleum products.
Already, petrol prices at depots across Nigeria recorded fresh increases on Wednesday, while diesel prices surged sharply in several locations, signaling renewed cost pressures for fuel marketers and transport operators.
Mid-day depot price data for July 22, 2026, showed that petrol depot prices rose across major supply hubs, including Lagos, Port Harcourt, Warri and Calabar, with some depots increasing prices by as much as N87 per litre.
The sharpest increase was recorded at Bulk Strategic Reserve in Lagos, where the ex-depot petrol price jumped by N87 per litre to N1,350, from N1,263. The increase places the depot among the highest-priced suppliers in the country and could influence retail pump prices if sustained.
Other Lagos depots posted more modest increases. Liquid Bulk, Masters Energy, Matrix and Sigmund all raised petrol prices by between N15 and N17 per litre to N1,280, while TSL did not quote a new price.
Meanwhile, fresh increases in the pump price of petrol—to an average of N1,350 per litre, from N1,260 per litre, across filling stations in Lagos and its environs—have heightened concerns over the rising cost of living, with millions of Nigerians expected to face higher transportation, food and business costs.