DANGOTE REFINERY RETURNS TO NAIRA PETROL SALES, CITES IMPORTER STOCKPILING

The Dangote Petroleum Refinery has reversed its short-lived dollar-based petrol pricing and resumed sales in naira, accusing fuel importers of deliberately withholding stocks in hopes of driving prices higher.

A management official, speaking anonymously, said the switch back was made in the national interest to avert scarcity and further price spikes. “We took a decision in the interest of the country to start selling Premium Motor Spirit in naira, since we saw that the importers were holding back their goods, looking for a price rise,” the source stated.

The refinery’s commercial department notified marketers that gantry loading would resume at ₦1,215 per litre, with coastal prices set at ₦1,602,495 per metric tonne. The earlier dollar pricing had sparked anxiety among independent marketers unable to source foreign exchange, prompting many to suspend loadings.

Dangote had adopted dollar sales after receiving insufficient crude under the government’s naira-for-crude arrangement and needing to buy more feedstock internationally. Talks with the Federal Government continue. Depot prices have since settled around ₦1,215–₦1,220 per litre, while pump prices range between ₦1,260 and ₦1,300 depending on location.