3 weeks ago
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Dangote Refinery has suspended the gantry merchantability of premium centrifugal tone successful Naira and pegged it astatine $0.779, which is astir N1,075 per litre for PMS.
In a announcement to customers by the firm’s Group Commercial Operations, the refinery said the dollar terms takes effect from Monday.
Accordingly, the refinery benchmarked the ex-depot terms of automotive state oil, diesel, astatine $1.087 per litre and aviation substance astatine $0.942 per litre, portion coastal deliveries of PMS person been priced astatine $1,044.62 per metric tonne.
This means the refinery has suspended the acquisition of its merchandise successful naira, which started connected October 1, 2024, pursuing the commencement of the naira-for-crude merchantability woody with the Nigerian government.
“Following our email connected the 9th of July, 2026, regarding the modulation from Naira to United States dollars, delight enactment that each issued Naira Coastal and Gantry PFIs/Deal Recaps are present invalid, and nary payments should beryllium made against them.
“The applicable USD prices for each product, effective today, July 13, 2026, are provided,” it said.
Dangote Refinery and the Nigerian authorities person not officially commented connected the caller pricing erstwhile DAILY POST contacted them astatine the clip of reporting.
The Dangote Refinery’s terms template has far-reaching implications for the country’s downstream lipid sector.
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