Dangote Petroleum Refinery has suspended diesel loading, this is a signal for a likely price review, as global crude markets continue to exert pressure on Nigeria’s downstream sector. The move comes amid sustained volatility and rising costs that have already pushed depot diesel prices above the ₦2,000 per litre mark.
The refinery’s pricing strategy in the first quarter of 2026 was sharply market-driven, with diesel prices adjusted eight times in response to fluctuations in crude oil, replacement costs, and supply chain constraints.
Prices ranged from ₦880 per litre in early February to ₦1,750 per litre at the refinery’s gantry by late March, reflecting both aggressive increases and tactical corrections.
The recent halt in diesel loading coincides with a broader surge in depot pricing. Market checks on April 7, 2026 show that several private depots have adjusted Automotive Gas Oil (AGO) prices significantly. In Lagos, Nipco depot is selling at ₦2,020 per litre, while Obat and Matrix depots have quoted ₦2,200 per litre. Ibeto depot also recorded ₦2,000 per litre.
In Port Harcourt, Sigmund and Matrix depots are both selling at ₦2,200 per litre, while Warri depots show Prudent at ₦2,000 and A.Y.M Shafa and Matrix at ₦2,200 per litre. Calabar continues to face tight supply, with limited availability reported.
The upward movement in diesel prices are being driven by rising global crude benchmarks. As at the time of writing, 06:25 WAT:
Brent Crude: $110.5 per barrel (+0.63%)
WTI Crude: $115.4 per barrel (+2.66%)
The sustained rally in crude prices has increased replacement costs for importers and exerted pressure on downstream margins, prompting depot operators to pass on higher landing costs to consumers.
Despite the surge in depot prices, Dangote Refinery’s gantry price remains at ₦1,750 per litre. However, the halt in loading signals that a price adjustment may be imminent, especially if global crude prices continue to climb and supply constraints persist.
The current suspension of diesel loading may also indicate inventory recalibration or strategic positioning by the refinery, both of which often precede a price review in a volatile market environment.
With crude prices remaining elevated and supply risks ongoing, diesel prices in Nigeria are expected to remain high in the short term. Any upward adjustment at Dangote’s gantry is likely to cascade across the downstream sector, influencing retail prices and increasing costs for businesses and consumers alike.
For industry players, the signal is clear: diesel pricing is increasingly tethered to global crude movements, and market participants must prepare for continued volatility and swift adjustments.