Dangote Refinery Dollar Petrol Sales begin as the company moves refined product transactions to US dollars, introducing a new pricing structure
Dangote Petroleum Refinery has introduced dollar-based pricing for refined petroleum products, ending naira payments for petrol, diesel and aviation fuel purchases as the facility adopts a new commercial pricing structure.
Also read:Â Dangote Industries Unveils Multi-Billion-Dollar Ogun Deep-Sea Port Plan
The move marks a significant shift in Nigeria’s downstream petroleum sector, with Africa’s largest refinery now setting ex-depot prices for refined products in United States dollars.
The policy places Premium Motor Spirit (petrol) at $0.779 per litre for gantry sales, while Automotive Gas Oil (diesel) is priced at $1.087 per litre and Aviation Turbine Kerosene at $0.942 per litre.
The refinery also fixed coastal petrol supplies at $1,044.62 per metric tonne.
The new prices became effective on Monday, July 13, 2026, according to a notice issued to petroleum marketers and customers by the refinery’s Group Commercial Operations.
The company stated that previously issued naira-denominated Proforma Invoices and Deal Recaps for coastal and gantry transactions were no longer valid and that payments should no longer be made against them.
“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 notice stated.
However, Dangote Refinery clarified that the transition would not affect Liquefied Petroleum Gas (LPG) transactions.
Industry sources said the decision was influenced by currency pressures affecting the refinery’s operations, particularly the difference between the currency used to purchase crude oil and the currency used to sell refined products.
The sources explained that while some crude supplies are now obtained through dollar-based arrangements, many refined products had continued to be sold domestically in naira, creating foreign exchange exposure for the refinery.
One industry source said the currency mismatch, alongside fluctuations in international crude oil prices and exchange rates, contributed to the decision to adopt a dollar-based pricing framework.
The development comes after the refinery previously participated in the Federal Government’s naira-for-crude arrangement, introduced to support domestic refining, reduce foreign exchange pressure and encourage local fuel production.
The policy allowed local refineries to access crude oil supplies in naira, but industry stakeholders have reported challenges in sustaining the arrangement, with more crude transactions shifting towards dollar payments.
The latest move is expected to affect petroleum marketers who purchase products directly from the refinery, with possible implications for fuel pricing across Nigeria.
Although the refinery’s dollar benchmark provides the base price for marketers, the final retail price of petrol will still depend on factors including the naira-to-dollar exchange rate, transportation costs, logistics expenses, regulatory charges and distribution margins.
Also read:Â Dangote Industries Unveils Multi-Billion-Dollar Ogun Deep-Sea Port Plan
With Dangote Refinery becoming a major supplier of refined petroleum products in Nigeria, its pricing decisions are expected to remain a key factor shaping the country’s fuel market.
