Dangote Refinery Maintains Premium Fuel Pricing as Nigeria’s Depot Market Sees Marginal Adjustments
By Eyo Nsima
Nigeria’s Dangote Refinery continued to maintain a firm position in the country’s downstream petroleum market on Wednesday, July 1, 2026, as its depot prices remained unchanged despite marginal movements recorded across other major fuel depots.
Data from petroleum depots in Lagos, Port Harcourt, Calabar and Warri showed that the Dangote Refinery depot maintained its Premium Motor Spirit (PMS) price at ₦1,126 per litre in both Lagos and Port Harcourt, making it one of the higher-priced suppliers in the market during mid-day trading.
While several competing depots adjusted their PMS prices downward, Dangote Refinery held steady, with no change from previous trading levels. In Lagos, the refinery’s PMS price remained above several suppliers, including NIPCO, which reduced its price by ₦7 to ₦1,118 per litre, while African Terminal, Ascon, BONO, Emadeb and Sahara adjusted down by ₦1 to ₦1,120 per litre.
Other major suppliers in Lagos, including Matrix and MRS, were priced around ₦1,125 per litre, slightly below the Dangote Refinery depot price.
In Port Harcourt, Dangote Refinery also maintained its PMS price at ₦1,126 per litre, even as Bulk Strategic reduced its price by ₦3 to ₦1,123 per litre, while Matrix and Sigmund lowered their PMS prices by ₦7 and ₦3 respectively to ₦1,125 and ₦1,123 per litre.
The refinery’s Automotive Gas Oil (AGO), commonly known as diesel, also remained unchanged at ₦1,500 per litre in Port Harcourt. This compares with mixed movements among other suppliers, with Matrix increasing its AGO price by ₦45 to ₦1,520 per litre and Sigmund raising its diesel price by ₦43 to ₦1,518 per litre.
Meanwhile, Aiteo reduced AGO by ₦5 to ₦1,460 per litre, while Duport and Ibachem also recorded declines of ₦10 and ₦5 respectively.
The stability in Dangote Refinery’s pricing comes amid increasing attention on the role of domestic refining capacity in shaping Nigeria’s fuel supply and price dynamics. Market participants have continued to monitor how increased local production will influence depot competition, import dependence and downstream price movements.
Industry analysts say the refinery’s decision to maintain its prices while other suppliers make small adjustments reflects a competitive market environment where refiners and marketers are closely balancing supply availability, operating costs and market demand.
Although depot prices have shown signs of moderation, retail fuel prices will continue to depend on logistics expenses, distribution margins, exchange-rate movements and how quickly marketers transfer depot price changes to consumers.
With its large-scale refining capacity and expanding role in domestic petroleum supply, the Dangote Refinery remains a key factor in Nigeria’s downstream market, influencing pricing trends and competition among fuel suppliers nationwide.
