The Dangote Petroleum Refinery has announced that it will no longer sell petrol in naira, a decision that has unsettled oil marketers and reignited concerns over possible fuel price hikes and foreign exchange pressures.
In a notice sent to customers late Friday evening, the refinery revealed that sales in local currency would end on Sunday, September 28, 2025.
The company attributed the move to the exhaustion of its crude-for-naira allocations, a programme that had allowed it to supply petrol to the domestic market without heavy reliance on foreign exchange.
“We have exceeded our available crude-for-naira allocations and cannot sustain sales in naira for now,” the statement from Dangote Petroleum Refinery & Petrochemicals read.
The company further advised customers with ongoing transactions in naira to request refunds.
This development comes at a time when the refinery is already under public scrutiny over accusations of mass layoffs.
Labour unions have alleged that more than 800 Nigerian workers were dismissed, sparking protests and demands for government intervention.
Energy experts warn that the suspension could have ripple effects across Nigeria’s downstream oil sector. If transactions shift fully to the dollar, pump prices may once again spiral upward.
“The Dangote Refinery has been the stabilising force in recent months,” said Jeremiah Olatide, Chief Executive Officer of Petroleumprice.ng. “If sales are dollar-denominated, we may see prices cross N900 per litre very soon.”
This is not the first time the refinery has halted naira sales. In March 2025, the company briefly suspended local currency transactions after allocations under the crude-for-naira scheme ran dry.
That decision pushed pump prices close to N1,000 per litre, fuelling nationwide anxiety about the dollarisation of Nigeria’s fuel market.
Post a Comment
Drop Your Comment In The Box Below