Dangote Petroleum Refinery has hiked its Premium Motor Spirit (PMS) gantry price by N100 per litre, lifting the ex-depot rate from N774 to N874, a senior official confirmed, citing soaring global crude costs and elevated replacement expenses.
“Yes, the price has been reviewed. The new gantry price is now N874 per litre, up from N774. The revision became necessary due to changes in global crude fundamentals and replacement costs,” the official stated.
The adjustment coincides with Bonny Light crude topping $80 per barrel following U.S.-Israel strikes on Iran, prompting the refinery to suspend petrol loading from midnight March 2, 2026. Proforma invoice issuance halted, though diesel operations continued uninterrupted.
Local monitoring platforms already reflect the N874 rate, with private depots pausing sales pending clearer signals, potentially driving nationwide retail pump price hikes in the downstream sector.
Meanwhile, the refinery’s ₦100 billion lawsuit against Nigerian National Petroleum Company Limited and others over industry and regulatory disputes adjourned to November 5, 2026.
