Dangote Refinery dispels shutdown rumours, resumes petrol supply at N850

Dangote Petroleum Refinery has firmly debunked widespread rumours of an operational shutdown, assuring Nigerians of a steady supply of Premium Motor Spirit (PMS) at an ex-depot price of N850 per litre.

The clarification came on Friday, August 8, 2025, following a week-long suspension of petrol sales that had triggered anxiety in the downstream petroleum sector.

The 650,000-barrel-per-day facility in Lekki, Lagos, resumed distribution on Thursday after halting sales to implement what officials described as “operational adjustments.”

The pause was linked to an internal memo directing marketers to temporarily halt payments into the refinery’s gantry account — a move that caused short-term supply disruptions and price instability in parts of the country.

Speaking on the matter, refinery spokesperson Anthony Chiejina reassured stakeholders of the company’s operational stability:

“Dangote Refinery remains fully operational, with adequate reserves to meet domestic demand and surplus for export. We are committed to supporting Nigeria’s energy security and to delivering transparent, competitive pricing.”

The resumption of supply was confirmed by Abubakar Maigandi, National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), who said sales had recommenced at the adjusted N850 per litre price — a 3.66% increase from the previous N820.

READ ALSO: Petrol prices drop nationwide as IPMAN responds to Dangote Refinery slash

The modest N30 hike is attributed to fluctuations in global crude oil prices. The refinery, which currently imports crude from the United States, faces cost pressures from international market dynamics.

This adjustment comes against a backdrop of ongoing challenges in Nigeria’s fuel market, where the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) recently reported that 71.38% of petrol consumed between May and June 2025 was imported — a reality the refinery aims to change.

While some Lagos outlets have already raised pump prices to N915 per litre, analysts believe competition could help moderate retail costs. Competing marketers have recently offered depot prices as low as N815, providing room for market forces to check price escalation.

Dangote Refinery has urged marketers to pass on cost benefits to consumers, positioning itself as a player keen on fostering fair competition in the domestic market.

The refinery’s swift response to shutdown speculation and transparent price adjustment underscore its importance in stabilising Nigeria’s fuel supply.

Beyond meeting local needs, the facility’s strategic goal remains to reduce reliance on imported petrol — a key pillar of President Bola Tinubu’s energy self-sufficiency agenda.

As the market navigates supply pressures and price shifts, Dangote Refinery’s continued operations offer a measure of stability in a sector where uncertainty often fuels volatility.