Dangote begins dollar fuel sales, pegs petrol at $0.78/litre
Dangote Petroleum Refinery has officially transitioned to dollar-denominated sales of refined petroleum products, fixing the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, at $0.78 per litre, in a significant policy shift expected to influence pricing across Nigeria’s deregulated downstream petroleum sector.
The new pricing regime, which took effect on Monday, July 13, 2026, also sets the ex-depot price of Automotive Gas Oil (diesel) at $1.087 per litre and aviation fuel at $0.942 per litre, while coastal deliveries of PMS have been priced at $1,044.62 per metric tonne.
The development marks the end of naira-denominated transactions for refined petroleum products sold by the refinery, reversing the arrangement introduced under the Federal Government’s naira-for-crude initiative, which commenced on October 1, 2024, to support domestic refining, conserve foreign exchange and stabilise fuel prices.
In a notice issued to petroleum marketers and customers, Dangote Refinery announced that all previously issued naira-denominated Proforma Invoices (PFIs) and Deal Recaps for gantry and coastal transactions had become invalid following the migration to United States dollar transactions.
The notice, signed by the refinery’s Group Commercial Operations, stated: “Following our email of July 9, 2026, regarding the transition from naira to United States dollars (USD), please note that all issued naira coastal and gantry PFIs/Deal Recaps are now invalid, and no payments should be made against them. The applicable USD prices for each product, effective today, July 13, 2026, are provided below.”
Under the revised pricing template, petrol supplied through the gantry will sell for $0.779 per litre, diesel for $1.087 per litre, aviation fuel for $0.942 per litre, while coastal PMS deliveries will be priced at $1,044.62 per metric tonne.
The refinery, however, clarified that the new dollar-based pricing framework does not apply to Liquefied Petroleum Gas (LPG), which will continue to be sold under its existing payment structure.
