The Dangote Refinery has implemented a new pricing system for refined petroleum products, setting the ex-depot price of Premium Motor Spirit (PMS), often known as petrol, at $0.779 per litre as it transitions from naira-based transactions to U.S. dollars.
The transition terminates the refinery's usage of naira for refined product sales, which was implemented as part of the Federal Government's naira-for-crude plan in October 2024.
Under the new pricing schedule, Automotive Gas Oil (diesel) will cost $1.087 per litre, while Aviation Turbine Kerosene (ATK) will cost $0.942 per litre. Petrol delivered via coastal deliveries will cost $1,044.62 per metric tonne.
The refinery notified marketers and customers that all previously issued naira-denominated Proforma Invoices and Deal Recaps for gantry and coastal transactions were no longer legitimate.
The notice, signed by the refinery’s Group Commercial Operations, as seen in the Punch, 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.
