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July 24, 2026 | Lagos
The Dangote Petroleum Refinery has increased the ex-depot price of Premium Motor Spirit, PMS, to *₦1,215 per litre* and resumed the sale of petrol in naira.
The refinery announced the adjustment this week as part of its renewed naira-for-crude arrangement with the federal government.
*What this means*
– *Ex-depot price*: Petrol from the refinery now sells at ₦1,215 per litre, up from the previous rate.
– *Naira sales resume*: Marketers can now lift products directly from Dangote Refinery and pay in naira, ending the period of dollar-denominated transactions.
– *Retail impact*: The increase is expected to push pump prices higher nationwide, depending on logistics, marketers’ margins and location.
Industry sources say the price adjustment reflects crude oil costs, foreign exchange rates and operating expenses.
The Dangote Refinery, with 650,000 barrels per day capacity in Lekki, remains central to the government’s plan to reduce fuel importation and stabilize domestic supply.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has not yet issued a directive on pump price caps following the new ex-depot rate.
