Dangote Refinery Reverses Dollar Petrol Pricing, Returns to Naira at N1,215 Per Litre
By Aboki Forex —
The Dangote Oil Refinery has scrapped its plan to sell Premium Motor Spirit (PMS) in US dollars and has reverted to naira-based pricing for gantry loading. The new ex-depot price is set at N1,215 per litre, an increase of N140 from the previous price of N1,075 per litre.
U-Turn After Week of Uncertainty
Dangote had initially moved to sell petrol, diesel, and aviation fuel in dollars, invalidating all naira-denominated proforma invoices and deal recaps issued before the transition. That decision, announced on July 9, 2026, forced independent marketers to source fuel from private depots at higher costs, creating a week of economic uncertainty in the downstream petroleum market.
Under the dollar pricing system, Automotive Gas Oil (diesel) was set at $1.087 per litre, while Aviation Turbine Kerosene (ATK) was priced at $0.942 per litre. Petrol delivered via coastal deliveries was tagged at $1,044.62 per metric tonne.
But on Wednesday, the refinery reversed course. “Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS) in naira, providing a measure of relief to marketers and consumers,” a statement read. “The gantry price is fixed at N1,215/ litre,” it added, as seen on Naija News.
New Price Represents 13% Jump
The new naira price of N1,215 per litre represents a 13.02 per cent increase from the previous rate of N1,075 per litre. That is a jump of N140 per litre for buyers loading directly at the refinery gantry.
After notifying clients of the new conditions on Tuesday, the refinery resumed accepting orders for coastal loading. The company also reinstated naira-denominated pricing for truck loading, ending the suspension that had left many independent marketers stranded.
What This Means for the Naira and Consumers
The return to naira pricing removes immediate pressure on the foreign exchange market, which would have faced higher demand for dollars if petrol sales had remained in USD. For consumers, the N140 per litre increase will likely feed into higher transport fares and goods prices in the short term, though marketers now have clearer pricing signals. The reversal also signals that the refinery is responsive to market realities, even as it adjusts its pricing upward to reflect cost conditions.