Dangote Refinery Switches Petrol to Dollar Pricing at $0.779 Per Litre

Dangote Petroleum Refinery has ended naira-based pricing for Premium Motor Spirit (petrol), fixing its gantry ex-depot price at $0.779 per litre under a new dollar-denominated framework for refined products effective July 13, 2026.

At the official exchange rate of N1,380.50 to the dollar, the new reference price translates to roughly N1,075.61 per litre — but unlike the previous fixed naira pricing, the naira equivalent will now float with the foreign exchange market.

The refinery’s notice to marketers, issued by its Group Commercial Operations, invalidated all previously issued naira-denominated proforma invoices and deal recaps for gantry and coastal transactions, instructing that no payments be made against them.

The full dollar price schedule puts diesel (AGO) at $1.087 per litre, aviation fuel (Jet A1) at $0.942 per litre, and coastal petrol deliveries at $1,044.62 per metric tonne.

The switch shifts exchange-rate risk squarely onto marketers — and ultimately consumers — and marks a fundamental change in how Nigeria’s largest refinery sells its flagship product. How quickly the change feeds through to pump prices is now the downstream sector’s central question.

Source: Independent