Dangote Petroleum Refinery has announced the resumption of Premium Motor Spirit (PMS), popularly known as petrol, sales in Naira, reversing its earlier decision to suspend the arrangement.
The U-turn followed the intervention of the Chairman of the Naira-for-Crude Transaction Committee, a government body established to guarantee steady crude oil supply to the refinery and stabilise foreign exchange inflows.
“Following the intervention of the Naira-for-Crude Transaction Committee Chairman, we are pleased to inform you of the resumption of PMS sales in Naira commencing immediately.
“You may proceed to place your orders in Naira for both self-collection and free delivery to earlier advised locations across the country,” the refinery said in a late-night statement on Saturday.
The company had initially announced the suspension of Naira-denominated sales, effective Sunday, 28 September, sparking concerns among marketers and consumers about possible supply disruptions and a return to dollar transactions. That notice has now been withdrawn.
Dangote Refinery assured customers that supply would continue without interruption, stressing that the Naira payment option was introduced to ensure affordability for Nigerians and to support government efforts to stabilise the economy.
The $20 billion, 650,000-barrels-per-day facility—the largest in Africa—only recently began supplying petrol to the domestic market after months of distributing diesel and aviation fuel.
The Naira payment option had been widely welcomed, easing the burden on marketers struggling to source dollars and shielding consumers from higher pump prices.
Marketers React
Independent petroleum marketers hailed the decision as a “timely relief.”
“This is good news. Buying in Naira reduces the pressure of sourcing forex and allows us to plan better. It also means consumers are less likely to face arbitrary price hikes,” said Bala Yusuf, a member of the Independent Petroleum Marketers Association of Nigeria (IPMAN).
Another marketer, who preferred not to be named, said the earlier suspension had triggered panic.
“There was fear that prices would shoot up if we had to return to dollar payments. This announcement restores confidence.”
Analysts’ Perspective
Energy experts say the move highlights the refinery’s strategic role in Nigeria’s economic stability.
“If Dangote maintains Naira sales, it could help ease pressure on the exchange rate, stabilise petrol prices, and strengthen confidence in the domestic refining sector,” said Dr Kemi Ajayi, an energy economist.
She added that sustaining the policy would require close coordination between the refinery, government, and crude suppliers to guarantee uninterrupted feedstock supply.
For many Nigerians, the decision represents both a relief and a sign that the country is making progress towards energy independence—reducing reliance on imported fuel and cushioning the impact of forex volatility.