The Dangote Refinery has announced the suspension of petrol sales in Naira, citing the exhaustion of its crude oil allocations priced in the local currency.
The refinery had informed marketers that from September 28, 2025, it would no longer be able to sell Premium Motor Spirit (PMS) in Naira, a move that immediately raised concerns over fuel pricing, access, and the wider implications for Nigeria’s struggling currency.
Petrol sales in Naira by Dangote Refinery have been one of the few measures providing respite for marketers and consumers, helping to stabilize pump prices amid fluctuating exchange rates and dollar scarcity.
The sudden halt therefore signaled potential disruptions in the market and renewed fears of price hikes that could worsen inflation and hardship for ordinary Nigerians.
But in a dramatic turnaround, a high-level intervention by the Naira for Crude Technical Committee reversed the development.
In a memo distributed to marketers on Saturday, the refinery confirmed it would continue selling PMS in Naira.
“Following the intervention of the Naira for Crude Technical Committee Chairman, we are pleased to inform you of the resumption of PMS sales in Naira commencing immediately.”
‘You may kindly proceed to place your orders in Naira for both self-collection and free delivery of PMS to the earlier advised locations across the country. Thank you for your continued patronage.”
The back-and-forth underscores the delicate balance between Nigeria’s foreign exchange management and its energy security.
By maintaining Naira-denominated transactions for petrol, the refinery not only eases pressure on marketers but also shields consumers from immediate shocks that could emanate from a dollar-only pricing regime.
Analysts say the committee’s intervention highlights government’s recognition of Dangote Refinery’s central role in stabilizing the downstream oil sector.
However, they also warn that without a sustainable framework for Naira-for-crude allocations, the cycle of suspensions and interventions could persist, leaving Nigerians vulnerable to price volatility.
