Dangote Petroleum Refinery is selling petrol in naira again, one week after it started selling it in dollars. Now the price of petrol is higher.
The refinery, which produces 650,000 barrels of petrol per day, increased the price of petrol by N140 per litre. So the new price is N1,215 per litre, which is about 13 per cent more than the old price of N1,075 per litre.
The price of petrol for loading also went up from N1,441,575 to N1,602,495 per metric tonne.
Dangote Petroleum Refinery told marketers about the change in a notice on Wednesday. The notice said that the new prices started immediately. If any petrol is not loaded, the price will change from July 22, 2026.
This change is news for the petrol industry. The week was very tough for the industry. On July 15, Dangote Petroleum Refinery stopped selling petrol for a while.
Started selling it in dollars. This caused a lot of problems for marketers, and the supply of petrol became very tight. Some marketers even stopped loading petrol because they could not get the dollars they needed to buy it.
Some experts said that selling petrol in dollars would cause problems for Nigeria’s foreign exchange market. Nigeria uses 50 million litres of petrol per day. If marketers had to buy petrol in dollars, they would need about $40 million per day, which is more than $14 billion per year.
Dangote Petroleum Refinery said they had to sell petrol in dollars because they were not getting crude oil from the government’s naira-for-crude scheme.
They had to import crude oil in dollars to keep the refinery running. A person from the government said that Dangote Petroleum Refinery did not break any laws by selling petrol in dollars. They just wanted to cover their costs.
The government got involved after marketers complained about the problems caused by selling petrol in dollars. Now Dangote Petroleum Refinery and the government are discussing the naira-for-crude scheme.
With the new price of N1,215 per litre, petrol from Dangote Petroleum Refinery is still cheaper than petrol from importers, which costs N1,275 per litre.
People who watch the market think that selling petrol in naira again will help fix the problems with supply and distribution that happened last week.
