The Dangote Refinery has raised its ex-gantry rate for Premium Motor Spirit while transitioning back to naira-based sales. This shift, confirmed in an official statement on Wednesday, allows fuel marketers to procure refined products using the local currency once more.
With a daily processing capacity of 700,000 barrels, the refinery has set the new price at N1,215 per litre. This marks a N40 increase from the N1,175 rate that was in effect prior to the temporary suspension of operations on July 14, 2026. By resuming naira transactions, the facility aims to ease current market pressures.
This development follows a period of ambiguity in the nation’s downstream petroleum sector caused by the refinery’s move to dollar-denominated sales earlier in July. Amidst this volatility, depot operators and retailers had already pushed up pump prices on multiple occasions over the last week. At present, retail prices for petrol in the Abuja region are fluctuating between N1,270 and N1,350 per litre.
