₦airaland Forum

Dangote Petroleum Refinery has fixed the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, at $0.779 per litre as it officially transitioned to a dollar-denominated pricing system for refined petroleum products.

The new pricing template, which took effect on Monday, July 13, 2026, also pegs Automotive Gas Oil (diesel) at $1.087 per litre and aviation fuel at $0.942 per litre, while coastal deliveries of petrol have been priced at $1,044.62 per metric tonne.

The move effectively ends naira payments for petrol, diesel and aviation fuel purchased from the refinery, marking a significant shift from the naira-based transactions introduced under the Federal Government’s naira-for-crude policy, which commenced on October 1, 2024.

In a notice to petroleum marketers and customers, the refinery said all previously issued naira-denominated Proforma Invoices (PFIs) and Deal Recaps for both gantry and coastal transactions had become invalid.

The notice, signed by the refinery’s Group Commercial Operations, stated: “Following our email of July 9, 2026, regarding the transition from naira to United States dollars (USD), 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 revised pricing template, 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 refinery, however, clarified that the transition does not affect Liquefied Petroleum Gas (LPG) transactions.

“Also note that this transition to USD does not apply to LPG transactions,” the notice added.

Industry sources said the change was necessitated by an increasing mismatch between the currency used to purchase crude oil and the currency in which refined products were being sold.

According to one source familiar with the development, Dangote Refinery now receives a significant portion of its crude oil from the Nigerian National Petroleum Company Limited (NNPCL) under dollar-denominated supply arrangements, while a large volume of refined products has continued to be sold domestically in naira.

The source said the imbalance had heightened the refinery’s exposure to foreign exchange risks.

Another industry official explained that the refinery had received fewer crude cargoes under the naira-for-crude arrangement in recent months, making it commercially necessary to align product sales with the currency used for crude procurement.

“Dangote Refinery is receiving fewer naira-denominated crude cargoes from NNPCL than dollar-denominated cargoes, while a larger volume of its petroleum products has been sold in naira.

The resulting currency mismatch, combined with volatility in international crude oil prices and continued exchange-rate uncertainty, made it necessary to migrate product sales to dollars,” the source said.

The development is expected to have far-reaching implications for petroleum marketers, many of whom source products directly from the refinery for nationwide distribution.

It also raises fresh questions about the future of the Federal Government’s naira-for-crude initiative, which was introduced to strengthen domestic refining, reduce pressure on foreign exchange demand and help stabilise fuel prices.

Although the refinery has fixed a dollar benchmark for product sales, the retail pump price of petrol across the country will continue to depend on several factors, including the prevailing naira-dollar exchange rate, international crude oil prices, transportation and logistics costs, regulatory charges and marketers’ margins.

With Dangote Refinery now accounting for a substantial share of Nigeria’s refined petroleum supply, industry stakeholders are expected to closely monitor how the new pricing regime influences fuel prices and competition in the deregulated downstream petroleum market.

Source: https://tribuneonlineng.com/dangote-refinery-fixes-petrol-price-in-new-pricing-template/amp/w

The ripoff continues. Government only hope is to bring down the exchange rate. But how can they when they don't have the dollar.
They think this is a good bargain but they will see it very soon. The volume of dollar marketers will be demanding to purchase these products from dangote will be more than what they are already trying to gain in the deal. If they withhold the dollar, scarcity will be noticed.
Don't keep loose ends with Dangote.

I am yet to understand how the currency used in buying feedstock affects any company to make them sell to marketers in dollars
Most breweries in the country import all or most of their feedstock and they don't sell to marketers in dollars
Most steel mills do the same.
All car assemblers do the same
Pharmaceutical companies do thesame
In China, India, USA etc it is the same way for many manufacturers.

Even Dangote cement do import spare parts with dollars and they pay some staff in dollars

Dj play me Elumelu by Young John



I didn't see anything naira or naira sign, everything is just dollars dollars, is that our currency now?

back to my song jare

The Nigerian government should start
paying its workers & contractors in dollars 💰💵💰

Didn’t the government at some point issue a ban on sales in USD by businesses?

When we warned about dangote refinery it was insult upon insult. Now that same dangote is telling you your naira is worthless but you won't say anything. Nigerians sorry oo just endure you hear? It will get better very soon

Let us pray for the poor masses in Nigeria 🇳🇬
I hope price will not X3 soon

I thought EFCC said dollarization of the economy is an economic crime. Here, is your suspect. Arrest him

Sale of products meant for local consumption in Nigeria in USD is unfair to Nigeria and Nigerians, and I urge both Nigerians and the government to reject it

1. Dangote got a good chunk of the fx used to build the refinery from Nigeria at official rates that was way below the market rate, and this is not a good way to repay that gesture

2. The new pricing policy breaches the regulations against dollarisation of the economy. It is illegal to price products produced in Nigeria and sold in Nigeria in USD

3. The policy will put the Naira under intense pressure as marketers will again begin sourcing USD to buy products

THIS POLICY IS BOTH WICKED AND ILLEGAL

Why is Dangote ripping us off like this? He should pity the common man. He's just making things difficult for us

With all this now make Dem issue import license to marketer nA him go first run cry come Media...


Since marketer no dey cry anytime he dey increase him Tariff to meet up with the global market I believe he also doesn't have the right to cry when Import licenses is being issued...

If they start pricing for local market in dollar, that means local consumer will start sourcing for dollar to buy petrol

Is there anything stopping NNPC from giving dangote crude in naira ?


A sort of long time deal like 20 to 30 years just for stability

Dangote 8s not fully impress the manner the crude is being selling to him... He want cheaper and constant crude oil ... I think it do it on purpose to seek the attention of federal govt for them to know ..

Okay. Dangote. Very Big Name !

Firstly, is this legal? However, even if it’s illegal, a rational business would want to avoid the currency risk arising from the trade imbalance.

Secondly, what’s the government’s plan to attaining domestic reliance on petroleum product availability and consumption? Given that our economy revolves so much around petroleum products, I expect the government to consciously work towards achieving almost 100% domestic reliance.

Thirdly, is this a bid to make good the USD-based dividend model for proposed listing?

The govt is failing Dangote and Nigerians, pure and simple.

If you fail to supply enough crude priced in Naira and Dangote has to buy crude in dollar, then it will certain benchmark its product in dollar; that's business without sentiment

Where is the petrol from our refineries? APC government told us the refineries are working. They insulted OBJ who told them nothing is working. APC is a curse to this nation

Unfortunately, he can sell in any currency he so desires because the refinery is in a free (trade) zone.

Sheuns:
Didn’t the government at some point issue a ban on sales in USD by businesses?

Dangote the business man. It's the incompetence Apc government that prioritizes the elites we should be calling out

Hahaha.... I knew it was just a matter of time.
Let's kuku discard naira and start using the US dollars in our daily transactions. Naira don cast.

This is in violation of law. He has no right to demand for dollar payments in
Nigeria

no noise agbero chairman is building Nigerian with france cement .by the time agbero chairman wins next election then expect dollar to hit 3000 and above. I see some attacking dangote body go tell Una next year

oyekanwahab:
If they start pricing for local market in dollar, that means local consumer will start sourcing for dollar to buy petrol

Is there anything stopping NNPC from giving dangote crude in naira ?


A sort of long time deal like 20 to 30 years just for stability

Please can you explain the advantage here to any company on Earth of buying feedstock in any particular currency?
Why are all the companies in Nigeria importing feedstock not complaining?

zikter:
Where is the petrol from our refineries? APC government told us the refineries are working. They insulted OBJ who told them nothing is working. APC is a curse to this nation

They even boasted about taking OBJ on a tour of the so-called "working" refinery.

The evil the APC cannot do does not exist.

Whatever happens, Dangote fuel is still cheaper than European import marketed at Togo 🤷‍♂️.

The young business man took loan to build this refinery and Wil still make profit cos it's not built for charity.. government should make the condition favourable to sell cheap or simply go back to subsidy and block the loopholes so that Nigerians can enjoy it. This is not sustainable the poor mass will be eroded soon

0.077 dollars
1.005 dollars
0.987 dollars

Finally Naira relegated

Sheuns:
Didn’t the government at some point issue a ban on sales in USD by businesses?

Such won't affect them. The refinery is in a free trade zone, e fit even dey trade in cefa or cedi, no police fit arrest am

NO, the FG must reject this.
This is against the petroleum products pricing template

Dangote has no right to sell petrol in Nigeria using a foreign currency. The government should issue license to marketers to import and maintain the pricing of petroleum products in naira.

I was raising the alarm that Dangote doesn't mean well for this country.. if not Buhari that used CBN under Emefiele to fund his refinery project at ridiculously low FX rates, would the refinery be standing today?.
I know people like Otedola will keep quiet instead of telling the monopolist the gospel truth that he is too greedy.

This is the more reason PBAT should look into the petroleum sector and if possible concession our State-owned refineries to serious companies to run. Monopoly is never a good option, has never been and will never be an option.

kingsways:
Sale of products meant for local consumption in Nigeria in USD is unfair to Nigeria and Nigerians, and I urge both Nigerians and the government to reject it

1. Dangote got a good chunk of the fx used to build the refinery from Nigeria at official rates that was way below the market rate, and this is not a good way to repay that gesture

2. The new pricing policy breaches the regulations against dollarisation of the economy. It is illegal to price products produced in Nigeria and sold in Nigeria in USD

3. The policy will put the Naira under intense pressure as marketers will again begin sourcing USD to buy products

THIS POLICY IS BOTH WICKED AND ILLEGAL

NNPC is the one punishing the people, not Dangote
NNPC wants to earn more by selling to him in dollar, they can easily maintain the crude for naira deal but they dont want to so as to earn more, the govt is quiet because they want more dollars, Dangote can't afford to be hunting for dollars to buy from NNPC, so the best is to transfer to marketers, marketers hunt for the dollars by adding tokens to a litre as cost of dollar sourcing from wherever they can