Dangote Refinery Ends Naira Sales, Adopts Dollar Pricing for Petroleum Products
Dangote Petroleum Refinery has released a fresh price list for its petroleum products after officially ending naira-denominated sales for marketers, introducing a new United States dollar pricing regime for major fuel products. The new policy, which took effect on Monday, July 13, 2026, requires marketers purchasing products through gantry and coastal loading to make all payments in U.S. dollars, marking one of the refinery's biggest commercial changes since it began supplying refined petroleum products to the Nigerian market.
The move is expected to significantly influence Nigeria's downstream petroleum sector, where Dangote Refinery has become a dominant supplier of petrol, diesel and aviation fuel. According to the revised pricing schedule issued by the refinery's Group Commercial Operations, Premium Motor Spirit (PMS), commonly known as petrol, will now sell at $0.779 per litre at the gantry, equivalent to about ₦1,076.44 per litre based on the prevailing exchange rate.
Fresh Prices for Petrol, Diesel and Aviation Fuel
Automotive Gas Oil (AGO), or diesel, has been priced at $1.087 per litre, translating to approximately ₦1,502.39 per litre, while Aviation Turbine Kerosene (ATK) will sell for $0.942 per litre, or about ₦1,302.95 per litre. For coastal deliveries, PMS has been fixed at $1,044.62 per metric tonne, estimated at roughly ₦1.44 million per metric tonne. Data from PetroleumPriceNG shows that the current dollar price is higher than the N1,075 per litre previously quoted by the refinery.
Industry observers say the transition is likely to reshape fuel marketing operations across Nigeria, as marketers will now need to source foreign exchange before lifting products from the refinery. The development could also influence depot prices, product distribution costs and retail pump prices in the coming weeks, depending on movements in the foreign exchange market.
Old Naira Invoices Cancelled
The refinery also informed customers that all previously issued naira-denominated Coastal and Gantry Proforma Invoices (PFIs) and Deal Recaps have been cancelled and are no longer valid for payment. According to the notice, the cancellation follows its earlier communication announcing the transition from naira to dollar transactions. Customers have therefore been directed not to make payments against any old naira invoices, as all new product purchases must now be settled using the newly approved dollar pricing structure.
LPG Transactions Remain Unchanged
Despite the shift to dollar payments for most petroleum products, Dangote Refinery clarified that Liquefied Petroleum Gas (LPG), commonly known as cooking gas, is exempt from the new arrangement. This means LPG transactions will continue under the existing payment framework, providing some relief to distributors and consumers in that segment.
What the New Dollar Prices Mean for Petrol
Legit.ng earlier reported that Nigeria's downstream oil sector has entered another major turning point after Dangote Petroleum Refinery announced that it has stopped selling petroleum products in naira, switching instead to U.S. dollar-denominated transactions. Under the new pricing regime, petrol (Premium Motor Spirit) will now sell at $0.779 per litre, diesel (Automotive Gas Oil) at $1.087 per litre, while aviation fuel (ATK) will be priced at $0.985 per litre, according to data from PetroleumPriceNG. The decision has sparked widespread debate across the country's energy industry, with many analysts warning that it could trigger another round of fuel price increases if the naira weakens further against the dollar.
As Nigeria's largest refining facility continues to expand its market presence, stakeholders will be watching closely to see how the new dollar-based pricing system affects competition, fuel availability and the overall cost of petroleum products across the country. Dangote Refinery advised customers seeking additional information on the new payment structure to contact its commercial operations team.
