Dangote Refinery Reverts to Naira Sales, Adjusts Petrol Price to ₦1,215/Litre Amidst Market Realignment
Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS) in Nigerian Naira, marking a significant pivot from its recent adoption of dollar-denominated transactions. This development, announced on Wednesday, July 22, 2026, brings a measure of stability to local petroleum marketers and consumers, who faced uncertainty during the brief period of dollar-only sales.
The refinery has simultaneously introduced a new pricing structure, setting the petrol price at ₦1,215 per litre. This represents an increase of ₦140 from the previous Naira-based price of ₦1,075 per litre. The official statement confirmed the fixed gantry price at ₦1,215/litre, signalling a recalibration of its commercial strategy.
This reversal follows an earlier decision by Dangote Refinery to peg the ex-depot price of PMS at $0.779 per litre, effectively ending its Naira pricing regime which was initially introduced under the Federal Government’s naira-for-crude policy. The shift to dollar sales was reportedly necessitated by challenges in procuring sufficient crude oil through the government’s exchange arrangement. The pricing template for Automotive Gas Oil (diesel) and aviation fuel also underwent review during this period, indicating a broader strategic adjustment.
The implications of this latest move are substantial for Nigeria’s deregulated downstream petroleum sector. As the nation’s largest supplier of refined petroleum products, with a capacity of 650,000 barrels per day, Dangote Refinery’s pricing decisions significantly influence market dynamics. The initial switch to dollar sales had been anticipated to reshape pricing benchmarks, and its subsequent return to Naira transactions, albeit at a higher price point, will be closely monitored by industry stakeholders.
The refinery had suspended both coastal and gantry loading operations on Wednesday, July 15, to implement the dollar-denominated pricing model. However, coastal loading orders have now resumed following customer notification on Tuesday. A source with direct knowledge of the situation confirmed that depots receiving supplies via coastal channels have already begun communicating the updated pricing and terms to their own clientele. While gantry sales were initially on hold, indications suggest these operations are also expected to resume imminently. This strategic recalibration underscores the complex interplay of currency fluctuations, crude procurement logistics, and market pricing within Nigeria’s vital energy sector, presenting ongoing considerations for legal, compliance, and executive decision-makers.
