Dangote Refinery Resumes Truck Loading of Petrol Amid Payment Adjustments

Dangote Petroleum Refinery has resumed the loading of petrol onto trucks for oil marketers after a temporary halt caused by payment issues. The 650,000 barrels per day refinery had stopped loading petrol on a Naira basis due to the suspension of the Naira-for-crude program, rising crude oil prices, and foreign exchange challenges. However, loading by ships continued on a dollar basis. To facilitate the resumption of truck loading, Dangote Refinery requested oil marketers with existing agreements to “top up” their payments to ensure they receive supplies.

According to industry sources, some companies, including MRS Oil & Gas, have complied with the new payment terms and are now receiving petrol at N880 per litre. Petrol prices have also increased nationwide, with the new pump and depot prices reaching as high as N960 per litre and N900 per litre, respectively. The price adjustments, effective from March 28, 2025, show a significant increase across major cities, with Lagos recording the lowest price of N930 per litre, while northern states face the highest prices of N960 per litre.

The price changes reflect a broader trend, with regional prices varying. In the South West, including states like Ogun, Oyo, and Ekiti, the price is N940 per litre, while in the South South and South East regions, it rises to N960 per litre. In Abuja and surrounding states, petrol will sell for N950 per litre. Meanwhile, northern states such as Zamfara, Kano, and Bauchi are also set to pay N960 per litre.

The Naira-for-crude arrangement, originally intended to boost domestic fuel supply, reduce import costs, and stabilize pump prices, has seen the Dangote Refinery receiving millions of barrels of crude oil in exchange for Naira since October 2024. Despite the challenges, the refinery’s output continues to grow, and the project remains a significant contributor to Nigeria’s energy sector. According to the refinery’s website, it aims to meet 100% of Nigeria’s refined product needs and generate a surplus for export, processing both Nigerian and other crudes.