Dangote Refinery Restores Naira Petrol Sales After FG Intervention
By Erewunmi Peace
The Dangote Petroleum Refinery and Petrochemicals has reversed its decision to suspend sales of Premium Motor Spirit (PMS), commonly known as petrol, in Naira, just hours after announcing the move. The sudden restoration of local currency transactions followed an urgent intervention by the Federal Government.
The refinery, in a memo sent to marketers on Saturday evening, confirmed the immediate resumption of Naira-denominated sales. The document specifically cited the intervention of the government’s technical committee overseeing the Naira-for-Crude policy.
Official Confirmation of Reversal
The memo, distributed to its commercial partners, stated:
“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 reversal immediately cancels the previous notice, which had been issued late Friday and was scheduled to take effect from Sunday, September 28, 2025.
The Initial Suspension and Its Cause
Earlier on Saturday, concerns had mounted across the country as the refinery announced the suspension of Naira sales. The initial memo, titled “Suspension of DPRP PMS Naira Sales – Effective 28th September 2025,” had informed marketers that the refinery could no longer sustain the practice.
The management explained that it had sold petroleum products in excess of its Naira-Crude allocations, making continued Naira sales unsustainable, as its crude oil purchase obligations are predominantly denominated in US Dollars.
Relief for the Downstream Sector.
The temporary suspension had sparked immediate fears within the downstream oil sector, with industry analysts warning that the shift to dollar-based transactions would inevitably trigger a sharp increase in the pump price of petrol, potentially pushing prices above the N900 per litre mark at depots.
The quick intervention by the Federal Government is seen as a move to stabilize the domestic fuel market and prevent a potential energy crisis and further pressure on the Naira, which the domestic crude sales policy was designed to protect.
Marketers have been urged by the refinery to disregard the earlier suspension notice and continue with their orders for both gantry collection and free delivery services in the local currency.
