Dangote refinery shifts back to naira sales amid importer actions
The Dangote Petroleum Refinery has reverted to selling petrol in naira, ending its brief period of dollar-denominated sales. A management official attributed this move to importers allegedly holding back fuel stocks, which risked causing scarcity and price hikes. The decision was made to protect consumers and stabilise the market. The refinery is still in discussions with the Federal Government regarding crude oil supply and pricing policies.
TLDR
- Dangote Petroleum Refinery switched back to naira sales after importers reportedly withheld petrol stocks, anticipating higher prices.
- The refinery had previously adopted dollar sales due to inadequate crude oil supply under the naira-for-crude initiative.
- The Federal Government intervened after independent marketers suspended loading because they could not source foreign exchange.
- Petrol gantry prices at the refinery were set at N1,215 per litre, with depot prices ranging between N1,215 and N1,220 per litre.
- The refinery continues talks with the government, hoping for a fair agreement on crude supply and pricing.
