The Dangote Petroleum Refinery has resumed full operations and increased the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, by 7%, moving from N820 to N877 per litre.

Recall that Legit.ng earlier reported that the refinery was facing an operational setback that threatened to worsen petrol shortages in Nigeria and several African markets.

The crisis at the refinery resulted in prices inching closer to the N1,000 per litre mark, sparking fresh outrage among motorists and consumers.

Dangote's new price shakes up depot market

According to reports, oil marketers purchasing two million litres or more will benefit from a slightly reduced rate, as the refinery’s price remains below the N890–N900 per litre charged by most depot operators.

Data from Petroleumprice.ng showed that depots like Pinnacle and Rainoil listed petrol at N890 and N885 per litre, while Optima and Matrix sold at N880 and N890, respectively.

The platform’s CEO, Olatide Jeremiah, noted that the refinery’s large capacity continues to influence market trends, predicting that depot prices could decline in the coming weeks, a change expected to reflect at filling stations nationwide.

Jeremiah said:

“The downstream sector continues to witness the price war. With its huge size and capacity, the 650,000 barrels per day refinery continues to determine the pace. Depot owners and others have to follow. So, we expect depot prices to reduce in the coming weeks. We also hope that the expected low prices will be extended to the filling stations nationwide.”

Despite this, checks revealed that many petrol stations were still selling above N900 per litre.

The President of the Oil and Gas Service Providers Association of Nigeria (OGSPAN), Mazi Obasi, praised the Dangote Refinery team for their resilience and successful relaunch, calling the refinery’s operation a major step toward Nigeria’s energy independence and economic stability.

Obasi said:

“The management and staff of Dangote Refinery should be commended for the successful commencement of operations and their resilience in overcoming various economic and operational challenges posed by saboteurs within the oil and gas value chain.”

He also reaffirmed OGSPAN’s support in raising public awareness about the benefits of local refining for job creation and foreign exchange savings.