Dangote Refinery Resumes Petrol Sale in Naira Following FG Intervention

Dangote Refinery Resumes Petrol Sale in Naira Following FG Intervention

 

 

Dangote Petroleum Refinery has resumed the sale of petrol in naira, a day after suspending the initiative.

 

In a notice to clients on Saturday, the refinery said the resumption followed intervention by the Federal Government.

 

“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 with immediate effect,” the statement read. “Clients may proceed to place orders in naira for both self-collection and free delivery to previously advised locations nationwide.”

 

The suspension on Friday was attributed to the depletion of the refinery’s crude-for-naira allocation.

 

Nigeria began selling crude oil and refined petroleum products to local refineries in naira on October 1, 2024, as part of efforts to boost supply, cut import costs, and reduce pump prices.

 

Earlier this year, the Nigerian National Petroleum Company (NNPC) Limited paused the naira-for-crude arrangement until 2030, after forward-selling all its crude oil. Subsequently, Dangote Refinery temporarily halted petrol sales in naira.

 

However, the Federal Government, on April 9, reaffirmed its commitment to continue the naira-for-crude initiative beyond its first phase, which ended March 31. Finance Minister and Coordinating Minister of the Economy, Wale Edun, also promised further updates on the arrangement in due course.

 

 

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