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By Tracy Moses
The Dangote Petroleum Refinery has announced an indefinite suspension of petrol sales in the Nigerian naira, a decision that has rattled oil marketers and reignited fears over escalating fuel prices and mounting pressure on the country’s foreign exchange reserves.
In an official notification sent to its clients at 6:42 p.m. on Friday, the refinery stated that it had exhausted its allocation under the crude-for-naira supply arrangement and, as such, could no longer sustain naira-denominated petrol transactions. The change is set to take effect from Sunday, September 28, 2025.
The internal memo, signed by the Group Commercial Operations of Dangote Petroleum Refinery & Petrochemicals, was titled: “Suspension of DPRP PMS Naira Sales – Effective 28th September 2025.”
“We wish to notify you that Dangote Petroleum Refinery & Petrochemicals has been supplying petroleum products beyond our crude-for-naira allocation. As a result, we are unable to continue selling Premium Motor Spirit (PMS) in naira,” the communication read.
The company further instructed customers currently engaged in naira-based transactions to submit formal requests for refunds.
“Please note that this suspension of PMS sales in naira takes effect on Sunday, September 28, 2025. Updates regarding the resumption of naira transactions will be communicated once the situation is resolved,” it added.
This marks the second time in 2025 that Dangote Refinery has halted naira transactions. Recall that a similar move in March 2025 was attributed to inadequate crude supply under the government’s crude-for-naira deal, a development that led to price spikes at the pump, with petrol climbing close to ₦1,000 per litre.
Market analysts are warning that this latest suspension could again destabilise the downstream sector. According to Jeremiah Olatide, CEO of Petroleumprice.ng, fuel prices could climb above ₦900 per litre as petrol marketers may now need to transact exclusively in U.S. dollars.
“The Dangote Refinery has played a stabilising role in recent months. If its products are priced in dollars, this could significantly impact affordability and availability for ordinary Nigerians,” Olatide cautioned.
The policy shift comes at a time when the refinery is already facing mounting industrial unrest. The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Friday accused the refinery of mass retrenchments, alleging that over 800 Nigerian workers had been unfairly dismissed.
Union leaders have condemned the layoffs as “unjust and anti-worker,” warning of imminent nationwide protests and solidarity actions unless the issue is swiftly addressed. They are also calling on the federal government to intervene.
With the Dangote Refinery widely regarded as a cornerstone of Nigeria’s energy reform agenda, industry experts say the twin crises, FX-related fuel pricing and deepening labour conflict, could derail recent efforts aimed at stabilising the petroleum sector and improving national energy security.