The Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS), commonly known as petrol, in naira after briefly switching to dollar-denominated transactions.
The refinery also increased its ex-depot price by ₦140 per litre, raising the gantry price from ₦1,075 to ₦1,215 per litre, effective July 22, 2026.
According to a notice issued by the refinery's commercial department, all pending gantry orders will be repriced under the new rate. The refinery also adjusted its coastal loading price from ₦1,441,575 to ₦1,602,495 per metric tonne.
The refinery had suspended petrol loading on July 15 and temporarily adopted dollar pricing, citing challenges in accessing crude oil under the Federal Government's naira-for-crude arrangement. The move disrupted fuel supply, pushed depot prices higher, and forced marketers to seek foreign exchange for purchases.
Industry stakeholders expressed concerns that the dollar pricing policy would increase pressure on Nigeria's foreign exchange market and lead to higher pump prices nationwide.
Following discussions between the Federal Government and the Dangote Group, the refinery has now returned to naira transactions. Analysts say the decision is expected to improve fuel distribution and ease supply challenges.
Despite the return to naira sales, the higher ex-depot price is likely to result in increased retail petrol prices unless international crude oil prices decline or competition among marketers helps cushion the impact.
On Wednesday, petrol was reported to be selling for around ₦1,300 per litre in Lagos and several other parts of Nigeria as global crude oil prices hovered near $94 per barrel amid renewed tensions in the Middle East.
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