Petrol lifting activities at the 650,000 barrels per day Dangote Petroleum Refinery have stopped for exactly one week. Once packed with tankers and bustling traders, the refinery is now quiet. Sources say marketers have abandoned the facility due to the halt in petrol sales.
Located in the Lekki Free Zone, the refinery was on track to expand to 700,000 barrels per day before year-end. But for now, its fuel corridors are nearly empty. A marketer who visited the site said, “Nothing is happening in Dangote. The place is unusually quiet. No product, no explanation.”
Another operator added, “Everyone who used to queue there has left. They’re now sourcing PMS from private depots instead.”
No Clarity from Management
For days, the refinery has not communicated the reason for the stoppage or when operations might resume. This lack of transparency is causing uncertainty across the downstream sector.
Industry insiders suggest the sharp swings in crude oil prices may be behind the suspension. In the past two weeks, Brent crude has fluctuated between $72 and $68 per barrel. Dangote Refinery imports more than 50% of its crude from the United States, making it vulnerable to global price shocks.
A marketer explained, “If the cost of imported crude changes daily, it affects your ability to fix prices. You either overprice or lose money.”
Dangote Slashes Diesel Price
While PMS remains unavailable, the refinery has dropped diesel prices to below ₦1,000 per litre for bulk buyers, while marketers are reselling for ₦1,000
Elsewhere, diesel still trades between ₦1,001 and ₦1,130 per litre across major depots. For instance, NIPCO sells at ₦1,130, AITEO at ₦1,001, and Pinnacle at ₦1,009. In comparison, Dangote’s diesel price of ₦1,000 per litre for bulk buyers is now the lowest in the market.
This sharp undercut has positioned the refinery as a price mover, and dealers are watching closely to see whether this move will force private depots to adjust their prices downward.
Traders Caught in the Dark
Marketers say the refinery’s silence has left them stranded. “Dangote is not saying anything,” one dealer lamented. “You go there and just wait. That’s not how to run a transparent system.”
The lack of public information has heightened concerns about overreliance on a single supplier in a deregulated market. Analysts warn that while Dangote once brought stability, its recent silence now threatens it.
An energy analyst in Lagos said, “You can’t deregulate and then keep people in the dark. The market needs clarity, not confusion.”
Uncertain Days Ahead
With over 50 million litres of petrol consumed daily in Nigeria, prolonged supply gaps could raise pump prices and strain logistics.
As buyers turn to private depots to meet demand, the question remains: when will Dangote resume petrol sales, and what caused the pause in the first place?
Until there is an official statement, market anxiety is likely to continue.