Society
Dangote Refinery increases fuel price, resumes naira sales
Dangote Refinery has increased its gantry price for Premium Motor Spirit, PMS and resumed the sale of its refined petroleum products in naira.
The refinery announced the development in a statement issued on Wednesday, confirming that marketers can once again purchase the product in the local currency.
According to the 700,000-barrel-per-day refinery, it has pegged its petrol gantry price at N1,215 per litre, up from N1,175 per litre, which was the previous price before sales were suspended on July 14, 2026.
“Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS) in naira, providing a measure of relief to marketers and consumers. “The gantry price is fixed at N1,215 per litre”.
The new price represents a N40 increase from the previous price of N1,175 per litre.
Recall that on July 14, 2026, Dangote Refinery resumed the sale of petroleum products to off-takers in dollars.
Dangote Refinery’s decision had created uncertainty in the country’s downstream oil sector.
Recall that over the past week, depot owners and marketers increased petrol prices at least twice.
Currently, the retail fuel price stands between N1,270 and N1,350 per litre in Abuja and its environs.
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