Dangote Refinery Resumes Naira Sales Of Petrol, Raises Ex Depot Price To ₦1,215/Litre

Dangote Refinery Resumes Naira Sales of Petrol, Raises Ex-Depot Price to ₦1,215/Litre Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit PMS, popularly known as petrol, in naira, while increasing its ex-depot price by ₦140 to ₦1,215 per litre nationwide. The development marks a return to local currency transactions after the refinery had previously adjusted its sales arrangements amid changing market conditions in Nigeria’s downstream petroleum sector. The new ex-depot price means petroleum marketers purchasing directly from the refinery will pay more for petrol before additional costs such as transportation, storage, margins and other operational expenses are added before reaching consumers. Industry stakeholders said the price adjustment reflects prevailing conditions in the petroleum market, including supply dynamics, operational costs and broader economic factors affecting fuel distribution. The resumption of naira-denominated sales is expected to support local currency transactions in the downstream sector and reduce dependence on foreign exchange-based pricing arrangements for domestic fuel supply. The Dangote refinery, located in Lagos, is Africa’s largest single-train refinery and was established to increase domestic refining capacity, reduce Nigeria’s reliance on imported petroleum products and improve energy security. Petroleum marketers and consumers will be watching how the latest price adjustment affects pump prices across the country, especially amid ongoing concerns over fuel affordability and transportation costs. The development comes as Nigeria continues efforts to stabilise its petroleum supply chain following major reforms in the downstream oil sector.