Business Page Writer
By Nonso Agbodi
Barely 24 hours after announcing it would halt petrol sales in Nigeria’s local currency, the Dangote Petroleum Refinery has reversed its decision and resumed Premium Motor Spirit (PMS) sales in naira.
In a statement issued on Saturday, the refinery credited the change to the swift intervention of the Chairman of the Naira-for-Crude Transaction Committee, saying the committee’s action made it possible to restore the arrangement immediately.
“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,” the company announced.
It further instructed marketers: “You may kindly proceed to place your orders in Naira for both self-collection and free delivery of PMS to the earlier advised locations across the country.”
Friday’s suspension notice, which had scheduled the end of naira sales for Sunday, 28 September, had unsettled fuel marketers and triggered fears of possible price hikes. Dangote Refinery now says customers should disregard that earlier communication.
According to the company, petrol sales in naira will continue uninterrupted “to guarantee affordable supply and ease market pressures” while wider discussions on allocation and pricing formulas continue.
The swift reversal underscores the growing influence of the Naira-for-Crude Transaction Committee in stabilising Nigeria’s downstream sector, even as the refinery remains central to the country’s hopes of achieving energy security and forex stability.
