Dangote Petroleum Refinery has officially ended the sale of petroleum products in naira, directing marketers to pay in United States dollars for all gantry and coastal product liftings in a move that marks a significant shift in Nigeria's downstream petroleum market.
Under the new pricing regime, which took effect on Monday, July 13, 2026, Dangote Refinery fixed the gantry price of Premium Motor Spirit (PMS) at $0.779 per litre (about ₦1,076.44/litre), while Automotive Gas Oil (AGO) will sell at $1.087 per litre (about ₦1,502.39/litre). Aviation Turbine Kerosene (ATK) has also been priced at $0.942 per litre (about ₦1,302.95/litre), while the coastal price of PMS has been set at $1,044.62 per metric tonne (about ₦1.44 million/MT).
The development was conveyed in a fresh notice issued by the refinery's Group Commercial Operations to customers, confirming that the transition from naira to dollar transactions had now become effective.
The refinery said all naira-denominated Coastal and Gantry Proforma Invoices (PFIs) and Deal Recaps previously issued have been cancelled and should no longer be used for payments.
"Following our email on the 9th of July, 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 notice stated.
Dangote added that the newly approved dollar prices became effective July 13, with marketers expected to settle all new product purchases in foreign currency going forward.
The refinery clarified that the new payment arrangement does not apply to Liquefied Petroleum Gas (LPG) transactions, meaning LPG sales will continue under the existing payment framework.
The decision represents one of the refinery's most significant commercial policy changes since commencing petroleum product distribution. It is expected to reshape transactions across Nigeria's downstream sector, as marketers will now have to source foreign exchange before lifting products from the refinery.
The policy could also have wider implications for depot pricing and fuel supply dynamics, particularly as Dangote Refinery remains Nigeria's largest supplier of refined petroleum products. Market participants are expected to closely monitor how the transition affects product costs, competition among depots and pump prices in the coming days.
The refinery advised customers requiring further clarification on the new payment structure to contact its commercial operations team.