The Dangote Petroleum Refinery has restarted Naira Petrol Sales, abandoning its temporary dollar-based pricing while raising the ex-depot rate by ₦140 per litre. This follows a week of halted truck loading and dollar pricing that disrupted the downstream market and drove up depot costs. Marketers received confirmation of the naira pricing resumption from the refinery’s commercial team on Wednesday.
This development follows a week after the 650,000-barrel-per-day refinery suspended petrol truck loadings and adopted dollar pricing, disrupting downstream distribution and triggering steep depot price increases. On Wednesday, the refinery’s commercial department notified marketers that Naira Petrol Sales had resumed, a move confirmed by the industry platform Petroleumprice.ng.
The move comes a week after the mega-refinery paused tanker loadings and switched to dollar payments, causing market friction, tight supplies, and surging depot costs. The refinery’s commercial team announced the return to naira sales in a Wednesday message to marketers, which was independently verified by Petroleumprice.ng.
The notice revealed that gantry petrol prices rose from ₦1,075 to ₦1,215 per litre, marking a ₦140 or 13.02 percent hike, while coastal loading rates increased from ₦1,441,575 to ₦1,602,495 per metric tonne. Titled PMS Price Change Communication, the update indicated that the new rates take immediate effect.
According to the memo titled PMS Price Change Communication, the revised pricing took effect immediately, pushing gantry petrol costs up by ₦140 (13.02%) from ₦1,075 to ₦1,215 per litre and lifting coastal loading rates from ₦1,441,575 to ₦1,602,495 per metric tonne.
The communication, titled PMS Price Change Communication, stated that the revised prices took immediate effect.
It read, “Please be advised that all unloaded gantry volumes will be subject to repricing at the new price, which is effective 22nd July 2026.
Should you require any further clarification, please do not hesitate to contact us.”
Backstory…
Dangote Refinery’s decision to resume petrol sales in naira comes after a brief suspension that disrupted fuel supply across Nigeria’s downstream sector.
The refinery had temporarily halted naira-denominated transactions amid uncertainty over crude oil supply arrangements and foreign exchange considerations, forcing many independent marketers to source products from private depots at higher prices.
The development also prompted independent marketers to suspend petrol loading from the refinery, saying they could not source the foreign exchange required for transactions.
Industry operators warned that the policy would significantly increase demand for foreign exchange, weaken the naira and push up petrol prices nationwide.
The development contributed to a fresh round of petrol price increases nationwide, with industry operators warning that consumers would ultimately bear the additional costs.
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