Dangote Refinery Switches to Dollar Pricing for Fuel Sales

Dangote Petroleum Refinery has announced a significant shift in its commercial operations, transitioning to dollar-denominated transactions for the sale of refined petroleum products, including petrol, diesel, and aviation fuel. This move marks an end to naira payments for these products and introduces a new pricing structure that could reshape dynamics in Nigeria's deregulated downstream petroleum sector.

The refinery has set the ex-depot price for Premium Motor Spirit (petrol) at $0.779 per liter. New benchmark prices have also been established for Automotive Gas Oil (diesel) at $1.087 per liter and Aviation Turbine Kerosene at $0.942 per liter. Coastal deliveries of petrol will be priced at $1,044.62 per metric tonne. These revised rates took effect on Monday, July 13, 2026.

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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.

In a notice to petroleum marketers and customers, the refinery stated that all previously issued naira-denominated Proforma Invoices and Deal Recaps are now invalid. The transition to U.S. dollars is intended to align the currency used for selling refined products with the currency predominantly used for procuring its crude oil feedstock. Sources familiar with the development indicated that the refinery found it necessary to adopt a uniform pricing framework due to an imbalance between the currency used for crude procurement and that of product sales.

The refinery clarified that this transition to USD pricing does not apply to Liquefied Petroleum Gas (LPG) transactions. Dangote Refinery has become Nigeria's largest supplier of refined petroleum products, and this change in pricing strategy is expected to have a notable impact on the market.

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Also note that this transition to USD does not apply to LPG transactions.