Dangote Petroleum Refinery has abandoned naira-based pricing for its petrol fixes, establishing a new ex-depot price of $0.779 per litre.
The move represents a significant pivot in the operational framework of Africa’s largest refinery, moving away from the local currency adjustments that have characterized recent months.
The decision follows a period of downward pressure on domestic fuel prices, with the refinery previously reducing petrol costs to N1,075 per litre.
By switching to a dollar benchmark, Dangote is likely seeking to insulate its pricing mechanism from the volatility of the naira, which has faced persistent depreciation pressures.
This structural change suggests that future price movements will be more closely tied to global crude oil trends and the USD/NGN exchange rate rather than domestic regulatory or market interventions alone.
In a separate operational update, the company announced a N500,000 reward for information leading to the identification of illegal truck haulage.