Dangote Petroleum Refinery has introduced a new dollar-denominated pricing template for refined petroleum products, fixing the ex-depot price of Premium Motor Spirit (PMS) at $0.779 per litre.
The new pricing structure, 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 petrol will cost $1,044.62 per metric tonne.
In a notice issued to petroleum marketers and customers, the refinery announced that all previously issued naira-denominated Proforma Invoices (PFIs) and Deal Recaps for gantry and coastal transactions had become invalid following its transition to United States dollar transactions.
The refinery explained that the move does not affect Liquefied Petroleum Gas (LPG) transactions, which will continue under the existing payment arrangement.
Industry sources said the shift was prompted by the growing mismatch between the currency used to purchase crude oil and the currency in which refined products were being sold.
According to the sources, Dangote Refinery now receives a larger share of its crude oil supply from the Nigerian National Petroleum Company Limited (NNPCL) through dollar-denominated transactions, while much of its refined products had continued to be sold in naira, exposing the company to foreign exchange risks.
The development marks a significant shift from the Federal Government’s naira-for-crude policy, introduced in October 2024 to support local refining, reduce pressure on foreign exchange demand and stabilise domestic fuel prices.
Analysts say the transition to dollar pricing could significantly affect petroleum marketers and may influence pump prices nationwide, depending on exchange rate movements and global crude oil prices.
The latest development also raises fresh concerns over the future of the government’s domestic crude supply initiative and its implications for fuel pricing in Nigeria’s deregulated downstream petroleum sector.
