Dangote Petroleum Refinery has scrapped naira payments for petroleum products and unveiled a new dollar-denominated pricing template for petrol, diesel and aviation fuel.
Dangote Dumps Naira, Switches Petrol Sales To Dollars
Dangote Petroleum Refinery has pulled the plug on naira transactions, switching petrol, diesel and aviation fuel sales to dollars, according to a report by Punch.
The refinery fixed petrol at $0.779 per litre, diesel at $1.087 per litre, and aviation fuel at $0.942 per litre, while coastal petrol supplies now go for $1,044.62 per metric tonne, the report said.
The refinery, in a notice to marketers, declared all naira-denominated invoices and deal recaps invalid, Punch reported. LPG transactions remain unaffected, the company clarified.
The shift, effective Monday, ends the naira pricing arrangement that followed the October 2024 naira-for-crude deal, industry sources told Punch, citing a growing mismatch between dollar-based crude purchases and naira-based product sales as the driving factor.
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