Dangote Petroleum Refinery and Petrochemicals FZE has increased the gantry price of Premium Motor Spirit (petrol) from N1,185 to N1,200 per litre, effective August 26, 2026.

In an official communication to customers issued on Tuesday, the refinery’s Group Commercial Operations announced revised depot prices for gantry and coastal deliveries.

The email, titled ‘PMS Price Change Communication (N1,185 per Litre To N1,200 Per Litre)’, asked customers to take note of the revised DPRP PMS gantry and coastal price, which is effective 26th August 2026.

According to the table contained in the notice, the coastal price rose from N1,562,265 per metric tonne to N1,582,380, while the gantry price increased from N1,185 to N1,200 per litre.

The refinery further directed customers to return all Authorisation to Collect documents for repricing, adding that a new volume contract would be issued for immediate loading resumption.

“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption. Should you require any further clarification, please do not hesitate to contact us,” the notice said.

The latest adjustment represents a N15 per litre increase in the gantry price and comes barely days after the refinery raised the price from N1,165 to N1,185 per litre. The previous increase took effect from midnight on August 21, 2026, according to industry trackers.

However, the latest hike comes against a backdrop of falling international crude oil prices. Data from oilprice.com on Tuesday showed West Texas Intermediate crude trading at $82.13 per barrel, down $2.88 or 3.39 per cent, while Brent crude stood at $88.37 per barrel, declining by $3.80 or 4.12 per cent. Murban crude also fell to $92.71 per barrel, shedding $8.73 or 8.61 per cent.

Our correspondent gathered that marketers and depot operators who received the circular might have begun returning existing ATCs for repricing in line with the refinery’s directive.

The N15 increase could result in higher pump prices as oil marketers factor in transportation, landing and other downstream costs. Petrol is expected to return to an average of N1,250 per litre.

The Dangote Group has yet to respond to messages from our correspondent.

The price increase comes at a time of renewed volatility in the international oil market amid the ongoing US-Iran conflict. Reuters reported that oil prices fell as investors viewed the latest US sanctions against Iran as less threatening to global oil supplies than a military escalation. However, analysts warned that the decline could be an overreaction, noting that prices could rise sharply if Iran retaliates militarily.

Reuters also reported that supply disruption risks remained, with only two commodity vessels transiting the Strait of Hormuz on Monday, the lowest daily tally since early May. The waterway handled about one-fifth of global oil consumption before the conflict began, leaving the market vulnerable to further disruptions.

Top 10 stockbroking firms dominated market activity across equities, fixed income, exchange-traded funds, and overall asset classes, as the Nigerian Exchange Limited witnessed a strong concentration of trading activity between 17 August and 21 August 2026.

In the equities market, the top 10 stockbrokers generated 59.89 per cent of the total transaction value during the five-day trading period. First Securities Brokers Limited led the equities leaderboard with N30.04bn in total trade value, representing 9.52 per cent of overall volume. Imperial Asset Managers Limited followed in second place with N28.57bn, accounting for 9.06 per cent, while CardinalStone Securities Limited captured third place with N26.58bn or 8.43 per cent.

Other prominent performers in the equity market included Cordros Securities Limited with N24.23bn (7.68 per cent), Stanbic IBTC Stockbrokers Limited with N21.98bn (6.97 per cent), and United Capital Securities Limited with N15.66bn (4.97 per cent). CSL Stockbrokers Limited, Chapel Hill Denham Securities Ltd, Stanex Financial Nigeria Limited, and Meristem Stockbrokers Limited rounded out the top 10, with trades ranging from N9.87bn to N11.04bn.

Fixed income trading reflected an even higher degree of market concentration, with the top 10 stockbrokers responsible for 96.41 per cent of the total trade value. Coronation Securities Limited and Vetiva Capital Management Ltd dominated the segment, each commanding 47.19 per cent of total market value with N1.38bn in transactions.

Apel Asset Limited came in third with N20.57m (0.70 per cent), closely followed by Finmal Finance Company Limited with N20.24m (0.69 per cent) and Smadac Securities Limited with N19.30m (0.66 per cent). Other brokers contributing to the fixed income segment included APT Securities and Funds, Meristem Stockbrokers Limited, El-Elyon Alliance and Securities Ltd, Sigma Securities Limited, and Tiddo Securities Limited.

The exchange-traded funds segment showed distinct market leadership, with the top 10 brokers handling 89.06 per cent of total transaction value. Lambeth Capital Limited secured the top spot in ETF trading with N330.88m, capturing 27.41 per cent of total trades.

CardinalStone Securities Limited placed second with N113.84m (18.62 per cent), while Stanbic IBTC Stockbrokers Limited generated N93.03m (14.35 per cent). Afrinvest Securities Ltd and Atlass Portfolios Limited posted N81.15m and N68.34m, respectively, followed by Apel Asset Limited, Vetiva Capital Management Ltd, Smadac Securities Limited, United Capital Securities Limited, and Morgan Capital Securities Limited.

Across all asset classes combined, the top 10 stockbrokers accounted for 59.26 per cent of total market value over the trading week. First Securities Brokers Limited maintained its supreme position across all asset classes with N30.05bn in transactions, representing 9.40 per cent of total market value.

Imperial Asset Managers Limited took second place with N28.57bn (8.94 per cent), followed by CardinalStone Securities Limited with N26.79bn (8.39 per cent). Cordros Securities Limited recorded N24.23bn (7.58 per cent), while Stanbic IBTC Stockbrokers Limited posted N22.15bn (6.93 per cent).

The remaining overall leaders included United Capital Securities Limited with N15.68bn, CSL Stockbrokers Limited with N11.05bn, Chapel Hill Denham Securities Ltd with N10.57bn, Stanex Financial Nigeria Limited with N10.36bn, and Meristem Stockbrokers Limited with N9.90bn.

The figures underscore the strong institutional presence and trading volume generated by the top brokerages on the Nigerian Exchange as investors continually route major transactions through established market operators.

The Federal Government has raised N7.62tn from the domestic bond market between January and August 2026 as it continues to tap the fixed-income market to finance its budget and other fiscal obligations.

The funds were raised through eight Federal Government of Nigeria bond auctions conducted by the Debt Management Office during the period.

The latest figures highlight the growing importance of domestic borrowing in meeting the government’s financing requirements, amid a projected budget deficit of about N31.5tn.

At the August bond auction, the DMO allotted N805.2bn through competitive bids across the January 2035, April 2037 and June 2038 instruments.

Although the amount allotted through competitive bids was below the N1.1tn offered, total allotments climbed to about N1.56trn after N752.3bn was sold through non-competitive allotments, according to Cowry Asset Management Limited.

Investor demand remained firm, with subscriptions reaching N1.7trn. This produced a bid-to-cover ratio of 2.1 times, compared with 1.9 times recorded at the preceding auction.

The June 2038 bond attracted the highest demand, receiving N821.3 billion in bids against N631 billion in competitive allotments. It also recorded N742.3 bn in non-competitive allotments.

Despite the strong demand, the DMO maintained a cautious approach to pricing. The June 2038 bond recorded a marginal yield of 17.79 per cent, while the January 2035 instrument attracted subscriptions of N513.6bn but received only N64.1bn in competitive allotments at a marginal yield of 17.15 per cent.

Analysts said the relatively low competitive allotments reflected the government’s yield considerations rather than a lack of investor interest.

Demand for government securities has remained strong as investors seek attractive returns while positioning for a possible decline in yields as inflation continues to moderate.

However, higher returns on short-term treasury bills have continued to influence investment decisions, contributing to an inverted yield curve in which shorter-dated instruments offer higher yields than some longer-term securities.

The N7.62 trillion raised through FGN bonds does not include funds obtained through treasury bills, Sukuk and other debt instruments, underscoring the government’s continued reliance on the domestic capital market to fund public spending.