Dangote Petroleum Refinery has reinstated naira sales of petrol after it previously stated that it was suspending naira sales. The halting was caused by a technical issue with the Naira-for-Crude Technical Committee.
In a note to marketers, the refinery stated that they were back on naira orders and that self-collection and free local delivery of petrol were returning to their original locations.
Previously, the refinery stated in a notice that it would suspend naira petrol sales, with a later resumption date of September 28, 2025. They explained that they had sold more petroleum products than naira-crude allocations; and that arrangement was no longer sustainable, so they intended to refund customers whose naira payments were still being processed.
While it is worth noting that the change in direction supports regulatory and government pressure, customers and dealers were concerned about head waters-or-aways to dollar ($) sales.
The brief suspension created market shocks. Local depots raised their prices from ₦835 to ₦870 per litre, anticipating an increase in naira sales to around ₦900 per litre.
The return to naira operations is intended to stabilize pricing and trade, while also establishing the naira-for-crude guiding principle to stimulate local refining and independence from the dollar for exchange.
The refinery must balance export ambitions with its domestic obligations. It also faces scrutiny over recent labour actions, including mass layoffs, which sparked tensions with unions.
At the end of the day, the survivability of the naira sales format will have to be based on a quantifiable crude allocations guarantee, endless reference to regulations, and steadfast cooperation from all stakeholders.
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