Dangote Refinery Halts Petrol Loading for 5th Day as Nigeria's Imports Jump 207%
Updated
Updated · Tribune Online · Jul 21
Dangote Refinery Halts Petrol Loading for 5th Day as Nigeria's Imports Jump 207%
1 articles · Updated · Tribune Online · Jul 21
Summary
Five days into Dangote Refinery’s loading suspension, marketers shifted to private Lagos depots, sending truck traffic surging and raising expectations of a wholesale petrol price increase when sales resume.
NMDPRA’s latest approvals helped drive petrol imports to 18.1 million litres a day in June from 5.9 million in May, while Dangote’s domestic supply fell to 32.5 million litres a day from 41.5 million.
Pump prices in Lagos already range from ₦1,220 to ₦2,250 per litre, and Brent crude above $90 a barrel has added to fears that any restart could come with higher prices.
IPMAN and refinery owners say the import surge undermines local refining, worsens price volatility and puts more pressure on the naira, which they said has weakened to about ₦1,400 per dollar.
Why is Nigeria importing more fuel despite its new mega-refinery?
Is Dangote’s lawsuit the key to ending fuel imports or a move to create a monopoly?
Dangote Refinery’s Dollar-Denominated Sales in 2026: Impact on Nigeria’s Fuel Market, Regulation, and Economic Stability
Overview
In July 2026, Nigerian oil marketers suspended large-scale loading of petroleum products after Dangote Petroleum Refinery decided to sell petrol in US Dollars and failed to provide a clear pricing template. This move led marketers to wait for further guidance, causing a major supply disruption. The Federal Competition and Consumer Protection Commission responded by warning Dangote Refinery that dollar pricing for domestic sales could be illegal, reflecting government concerns about the impact on the fuel market. As a result, private depots became the main supply source, increasing uncertainty and the risk of higher fuel prices for consumers.