Motorists and fuel marketers may soon experience some relief as Dangote Petroleum Refinery has resumed the loading of Premium Motor Spirit (PMS), popularly known as petrol, in naira after a week-long suspension that triggered supply concerns and sharp price increases across the country.

However, the refinery has simultaneously increased its ex-depot petrol price from N1,075 per litre to N1,215 per litre, representing a rise of N140 per litre or 13.02 per cent.

The resumption comes days after the refinery halted gantry and coastal loading operations on July 15 following the introduction of a temporary dollar-denominated pricing system for refined petroleum products. The decision had sparked uncertainty in the downstream sector and contributed to a surge in fuel prices at private depots and retail outlets nationwide.

Industry sources confirmed that customers have already been informed of the refinery’s return to naira-based transactions, with truck loading expected to commence immediately under the new pricing structure.

Despite the increase, checks indicate that Dangote Refinery’s new ex-depot price remains lower than the cost of imported petrol products. As of Tuesday night, some private depot operators were selling petrol at about N1,274 per litre, while several filling stations in Lagos were dispensing fuel at prices exceeding N1,300 per litre.

The temporary suspension of loading activities had a significant impact on fuel availability, tightening supply chains and forcing marketers to source products at higher costs. In Lagos, the average ex-depot price reportedly jumped from around N1,075 per litre before the suspension to approximately N1,275 per litre, reflecting an increase of nearly N200 per litre or 18.6 per cent.

Market observers say the disruption highlighted the refinery’s growing influence on Nigeria’s fuel supply network, with any operational adjustment quickly affecting prices across the country.

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Dangote Refinery had earlier attributed its decision to adopt dollar-based transactions to challenges in securing adequate crude oil supplies under the Federal Government’s naira-for-crude initiative. According to the refinery, the arrangement had made it difficult to access sufficient crude feedstock to sustain operations under existing pricing conditions.

Under the temporary dollar pricing template introduced during the suspension period, petrol was sold at $0.779 per litre, Automotive Gas Oil (diesel) at $1.087 per litre, while Jet A1 aviation fuel was priced at $0.942 per litre.

Reacting to the development, the President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Maigandi, welcomed the refinery’s decision to return to naira transactions.

Maigandi described the move as a positive step that would help stabilize supply and ease the challenges experienced by marketers and consumers over the past week.

“We are very happy with this development and I want to assure you that our members would resume loading immediately. This will further improve inland distribution after days of constrained availability,” he said.

Stakeholders are hopeful that the resumption of naira-based petrol sales will improve product availability nationwide, although consumers may still have to contend with higher pump prices as marketers adjust to the refinery’s new ex-depot rate.