Dangote Petroleum Refinery has suspended petrol loading operations effective midnight, 2nd March, 2026, following a sharp surge in global crude oil prices that crossed the 80-dollar per barrel threshold overnight, triggering widespread reactions across Nigeria’s downstream petroleum market.
Checks conducted by Petroleumprice.ng confirm that Premium Motor Spirit (PMS) loading was halted at exactly midnight, effectively stopping petrol sales and product lifting at the refinery. The suspension also means that the issuance of Proforma Invoices (PFI) has been put on hold, indicating that fresh petrol transactions are currently suspended.
A petroleum correspondent at the refinery observed that while PMS loading has been stopped, Automotive Gas Oil (AGO), commonly known as diesel, continues to load. The operational adjustment, therefore, applies strictly to petrol, as diesel supply remains ongoing.
Depot Owners Across Nigeria Also Halt Sales
Further checks by Petroleumprice.ng reveal that the refinery’s move coincided with a broader response among private depot owners nationwide. Several depots across key petroleum hubs did not sell petrol during the trading day, as traders and marketers reassessed pricing positions in light of the crude oil rally.
Market sources confirmed that many depot owners suspended PMS sales and loading activities, reflecting caution over potential replacement cost increases following the global oil price spike.
The coordinated slowdown suggests heightened sensitivity within the downstream market to international crude movements.
Diesel Price Surges in Lagos
Although petrol sales were largely inactive, limited diesel transactions were recorded in Lagos. A few depots sold AGO at approximately 1,100 naira per litre, representing a significant increase from the average of 890 naira per litre recorded on Friday.
The sharp adjustment underscores the immediate impact of rising crude prices on refined product pricing.
Response to Global Crude Rally
The suspension of petrol loading at the Dangote Refinery, alongside the halt in sales by multiple private depot owners, appears directly linked to the overnight surge in crude oil prices above 80 dollars per barrel.
Industry players are understood to be reviewing pricing structures and market exposure before resuming PMS transactions.
With both the country’s largest refinery and several depot operators pausing petrol sales, supply activity across Nigeria slowed markedly, highlighting the strong transmission effect of global crude price movements on the domestic fuel market.
Further updates are expected as operators clarify new pricing positions and market conditions stabilize.