Photo caption: Dangote Refinery
By Emeka Ugwuanyi
Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS) in naira, providing a measure of relief to marketers and consumers. The Gantry price is fixed at N1,215/ litre.
Dangote Petroleum Refinery had on On July 14, 2026 changed to dollar-denominated transactions of all petroleum products, which unveiled a new pricing template by fixing the ex-depot price of Premium Motor Spirit (petrol) at $0.779 per litre, that also raised the benchmark prices for diesel and aviation fuel.
The transition was seen as an end to naira payments for the purchase of refined products, which started after the October 1, 2024, commencement of the naira-for-crude deal.
The development reportedly was regarded as a major shift in the refinery’s commercial operations and could reshape pricing dynamics in Nigeria’s deregulated downstream petroleum sector, where Dangote has emerged as the country’s largest supplier of refined petroleum products.
The revised prices in dollar placed Automotive Gas Oil (diesel) at $1.087 per litre, Aviation Turbine Kerosene at $0.942 per litre, while coastal deliveries of petrol were fixed at $1,044.62 per metric tonne.
The new rates were disclosed in a notice issued to petroleum marketers and customers, stating that all previously issued naira-denominated Proforma Invoices and Deal Recaps for gantry and coastal transactions had become invalid.
The notice, signed by the refinery’s Group Commercial Operations, read, “Following our email on the 9th of July, 2026, regarding the transition from Naira to United States Dollars, 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 new pricing schedule, petrol sold through the gantry will cost $0.779 per litre, diesel $1.087 per litre, aviation fuel $0.942 per litre, while coastal PMS supplies will sell for $1,044.62 per metric tonne.
The company, however, clarified that the new pricing arrangement does not affect Liquefied Petroleum Gas. “Also note that this transition to USD does not apply to LPG transactions,” the refinery said.
The notice reversing to sale of petrol in naira was specific on whether other major products such as diesel and aviation fuel were affected as the announcement reversing to naira sale on said:”Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS) in naira, providing a measure of relief to marketers and consumers. The Gantry price is fixed at N1,215/ litre.”
