Dangote Refinery Breaks Silence on Petrol Sales Suspension as Fuel Prices Rise Above N1,200/Litre

• Dangote Refinery denies halting petrol sales amid speculation over dollar-based transactions
• Depot owners have increased petrol prices to over N1,200 per litre due to rising crude oil costs
• Motorists may face higher fuel prices as supply chain adjustments follow increased depot costs

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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.

Dangote Refinery has dismissed reports claiming it suspended the loading and sale of petrol to marketers through its gantry, insisting that fuel distribution is continuing despite widespread speculation.

The clarification came on Thursday, July 16, 2026, after reports suggested that the 700,000-barrel-per-day refinery had halted petrol sales following its decision to switch to dollar-denominated transactions for refined petroleum products.

Some reports claimed petrol was being sold at about $0.779 per litre, equivalent to roughly N1,075 per litre, fueling concerns across Nigeria's downstream petroleum market.

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However, Dangote Group spokesperson Anthony Chiejina described the reports as false, stating that the refinery had not suspended gantry sales to marketers or other off-takers.

Dollar sales spark market reactions

The rumours followed Dangote Refinery's recent move to suspend the sale of refined petroleum products in naira, opting instead for dollar-based transactions.

The policy shift has triggered uncertainty among marketers and depot operators, although the refinery has maintained that its ex-gantry pricing remains unchanged.

Dangote also clarified earlier that any adjustments in fuel pricing are driven by global crude oil market realities rather than its decision to invoice sales in dollars.

Depot prices jump above N1,200

While Dangote has kept its ex-gantry price unchanged, several private depot owners have raised petrol prices significantly.

Reports indicate that depots such as Optima, Emedab, and Parker now sell petrol between N1,200 and N1,225 per litre, up from around N1,080 per litre in recent weeks.

According to PetroleumPriceNG, rising international crude oil prices have pushed depot rates sharply higher.

Among the latest prices, Ardova (AP) sells at N1,200 per litre, Honeywell at N1,185, while African Terminal and Integrated are both priced at N1,150 per litre.

Motorists yet to feel full impact

Although depot prices have surged, retail pump prices have remained relatively stable in Abuja and neighbouring areas, where petrol still sells between N1,155 and N1,205 per litre.

However, the higher depot costs are already beginning to filter through the supply chain, with several filling stations across the country gradually raising pump prices above N1,200 per litre.

The latest developments suggest that while Dangote Refinery has denied suspending petrol sales, motorists may still face higher fuel costs as global crude prices continue to influence Nigeria's downstream market.

Fresh petrol price hike begins

Legit.ng earlier reported that fresh petrol prices are beginning to emerge across Nigeria's downstream petroleum market after Dangote Petroleum Refinery announced a major change to its fuel sales policy by switching transactions from the naira to the U.S. dollar.

The new pricing regime, which takes immediate effect, covers Premium Motor Spirit (PMS), popularly known as petrol, Automotive Gas Oil (AGO), also known as diesel, and Aviation Turbine Kerosene (ATK).

The policy applies to both gantry sales and coastal deliveries, marking one of the refinery's most significant commercial decisions since it commenced operations.