Dangote Refinery Denies Halting Petrol Sales, Blasts Rumours Over Dollar-Based Transactions

Dangote Refinery has dismissed reports claiming it suspended the loading and sale of petrol to marketers through its gantry. The company insists 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.

Refinery Spokesperson Calls Reports False

Dangote Group spokesperson Anthony Chiejina described the reports as false. He stated that the refinery had not suspended gantry sales to marketers or other off-takers. 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 Surge as Global Crude Costs Rise

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.

Retail Pump Prices Begin to Adjust

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.

For the naira and Nigerian consumers, the shift to dollar-based transactions at the refinery could add pressure on the forex market, while rising depot costs signal that pump prices may climb further in the weeks ahead.