Dangote Petroleum Refinery has introduced a new dollar-based pricing template for refined petroleum products, fixing the ex-depot price of Premium Motor Spirit (petrol) at $0.779 per litre.
The new pricing, which took effect on July 13, 2026, marks the refinery's transition from naira-denominated transactions to payments in United States dollars for most refined petroleum products.
Under the revised pricing structure, diesel will sell at $1.087 per litre, while aviation fuel has been fixed at $0.942 per litre. Coastal deliveries of petrol have also been priced at $1,044.62 per metric tonne.
In a notice issued to petroleum marketers, Dangote Refinery announced that all previously issued naira-denominated invoices and deal recaps for gantry and coastal transactions are no longer valid. The company instructed customers to make payments using the new dollar pricing.
The refinery explained that the decision was driven by the growing mismatch between the currency used to purchase crude oil and the currency used to sell refined products. According to industry sources, the refinery now receives a larger share of its crude oil from the Nigerian National Petroleum Company Limited (NNPCL) under dollar-denominated supply arrangements, increasing its exposure to foreign exchange risks.
However, Dangote clarified that the new pricing policy does not apply to Liquefied Petroleum Gas (LPG), which will continue to be sold under its existing payment arrangement.
Industry analysts say the move could significantly affect Nigeria's downstream petroleum sector, as the final pump price of petrol will now depend on exchange rates, transportation costs, logistics, regulatory charges, and marketers' operating expenses.
The development also raises fresh concerns about the future of the Federal Government's naira-for-crude policy, which was introduced to strengthen local refining, reduce pressure on foreign exchange, and stabilize fuel prices.
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