The Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit, popularly known as petrol, after a one-week suspension, with a revised ex-depot price of N850 per litre, up from the previous rate of N820.
This represents a 3.66 per cent or N30 increase in the ex-depot price, raising fresh concerns about potential hikes in pump prices across the country. The updated price, tracked via industry platform petroleumprice.ng, became effective Thursday as loading activities resumed at the 650,000-barrels-per-day facility located in the Lekki Free Trade Zone, Lagos.
Economic Confidential had last week reported a sudden halt in petrol sales at the multi-billion-dollar facility, a move that created uncertainty across the downstream market and triggered price volatility nationwide.
In a notice titled "Important Update on DPRP Collection Account for PMS", Dangote refinery instructed marketers to halt all payments for PMS loading at its gantry, effectively freezing further allocations. "Please be advised that, effective immediately, all payments to the DPRP collection account for PMS gantry should be placed on hold," the internal memo read. "Further updates will be communicated shortly."
But resuming sales after a week-long pause, the refinery has increased its loading cost to N850, indicating a possible increase in pump price next week nationwide.