Wednesday, July 15, 2026

News Update

Dangote’s Dollar-Only Sales Trigger Massive Fuel Price Hike – Petrol Hits ₦1,250, Diesel ₦1,650 BREAKING: Tinubu Declares War on Raw Cocoa Exports – “Nigeria Will No Longer Export Beans, Will Process Locally” Senate Slams Makinde: “Stop Calling for UN Probe, You Are Undermining Nigeria’s Security” BREAKING: Nigerian Troops Arrest Suspected Moroccan ISIS Operative Following Failed ISWAP Attack in Borno Yoruba hunters kill a gigantic Ògbò (African buffalo) during a hunting expedition in an Osun forest. BREAKING ⚖️: A Federal High Court has issued a bench warrant for the arrest of Adeniyi Adeyemi, Director General of the Presidential Foreign Intervention Promotion Council, after he failed to appear for trial over alleged forgery, fraud, and impersonation charges. Man Jailed 20 Years for Aiding Notorious Bandit’s Escape, Hiding Intelligence from Security Agencies After my husband lost his job as a pilot, he worked at my company and earned a salary for 11 months.” — Bunmi George (Jbums). Dangote’s Dollar-Only Sales Trigger Massive Fuel Price Hike – Petrol Hits ₦1,250, Diesel ₦1,650 BREAKING: Tinubu Declares War on Raw Cocoa Exports – “Nigeria Will No Longer Export Beans, Will Process Locally” Senate Slams Makinde: “Stop Calling for UN Probe, You Are Undermining Nigeria’s Security” BREAKING: Nigerian Troops Arrest Suspected Moroccan ISIS Operative Following Failed ISWAP Attack in Borno Yoruba hunters kill a gigantic Ògbò (African buffalo) during a hunting expedition in an Osun forest. BREAKING ⚖️: A Federal High Court has issued a bench warrant for the arrest of Adeniyi Adeyemi, Director General of the Presidential Foreign Intervention Promotion Council, after he failed to appear for trial over alleged forgery, fraud, and impersonation charges. Man Jailed 20 Years for Aiding Notorious Bandit’s Escape, Hiding Intelligence from Security Agencies After my husband lost his job as a pilot, he worked at my company and earned a salary for 11 months.” — Bunmi George (Jbums).

News

Dangote’s Dollar-Only Sales Trigger Massive Fuel Price Hike – Petrol Hits ₦1,250, Diesel ₦1,650

By [email protected] / 2026-07-15 / 1 min read

Nigeria’s fuel market has been thrown into turmoil following Dangote Refinery’s switch to dollar-only sales, sending petrol and diesel prices soaring across major terminals.

Effective July 13, Dangote Refinery began selling exclusively in US dollars, requiring marketers to pay in foreign currency for gantry and coastal liftings. All prior naira invoices were cancelled. The new reference prices are $0.779 per litre for petrol, $1.087 per litre for diesel, and $0.942 per litre for aviation fuel.

The impact has been immediate and severe. Matrix Depot raised its petrol loading price from ₦1,137 to ₦1,250 per litre – a ₦113 increase. Sahara, AIPEC, and African Terminal moved petrol from ₦1,090 to ₦1,120 per litre. Diesel prices also surged by up to ₦150 per litre, reaching ₦1,650 at some depots.

The development has sparked fears of a fresh wave of inflation as marketers pass the increased costs to consumers. The Nigerian Midstream and Downstream Petroleum Regulatory Authority has yet to issue an official statement on the matter.

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