Nigeria’s downstream petroleum market has come under fresh pressure as the Dangote Petroleum Refinery has increased its ex-depot price of Premium Motor Spirit (petrol), raising concerns over another round of fuel price hikes across the country.
Industry data obtained from Petroleumprice.ng and confirmed by a senior refinery official on Wednesday showed that the new loading price has been raised from ₦1,200 per litre to ₦1,275 per litre, while coastal supply prices also rose to ₦1,215 per litre.
“Yes, the increase of PMS to ₦1,275 per litre is true. Coastal price is ₦1,215,” the official confirmed.
The development comes amid reports that the refinery has also suspended its Proforma Invoice (PFI) system, a key process used for coordinating product loading and distribution. The suspension reportedly disrupted petrol and diesel transactions across its loading network, triggering uncertainty among marketers.
Sources familiar with the matter said the disruption began around 4pm on Tuesday, forcing an immediate halt to product supply operations.
The twin developments, price increase and supply interruption, have sparked panic within the downstream oil sector, with marketers warning that depot and retail fuel prices could rise further in the coming days.
Industry operators say such disruptions typically increase logistics and distribution costs, which are ultimately passed on to consumers already struggling with high living costs.
The latest adjustment is also linked to rising global crude oil prices, which have continued to push up refining costs. Brent crude recently climbed above $114 per barrel, while West Texas Intermediate traded above $103, amid escalating geopolitical tensions affecting global supply routes.
The increase adds to a series of price adjustments recorded in recent months. In March 2026, the refinery had already raised petrol gantry prices multiple times, a move that quickly reflected in retail pump prices across Nigeria.
Despite growing concerns, there has been no official intervention from the Federal Government to cushion the impact on consumers.
With the latest hike and supply uncertainty, fears are mounting that Nigeria could be heading into another phase of fuel price volatility and possible nationwide pump price increases.