{"id":122555,"date":"2025-09-27T12:38:14","date_gmt":"2025-09-27T11:38:14","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=122555"},"modified":"2025-09-27T12:38:14","modified_gmt":"2025-09-27T11:38:14","slug":"dangote-halts-petrol-sales-in-naira-amid-fx-strain","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/dangote-halts-petrol-sales-in-naira-amid-fx-strain\/","title":{"rendered":"Dangote Halts Petrol Sales in Naira Amid FX Strain"},"content":{"rendered":"<div id=\"m#msg-f:1844411669602501995\" class=\"mail-message expanded\">\n<div id=\"m#msg-f:1844411669602501995-header\" class=\"mail-message-header spacer\" style=\"text-align: justify;\">By Tracy Moses<\/div>\n<div id=\"m#msg-f:1844411669602501995-content\" class=\"mail-message-content collapsible zoom-normal mail-show-images \">\n<div class=\"clear\">\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">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\u2019s foreign exchange reserves.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">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.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The internal memo, signed by the Group Commercial Operations of Dangote Petroleum Refinery &amp; Petrochemicals, was titled: \u201cSuspension of DPRP PMS Naira Sales \u2013 Effective 28th September 2025.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cWe wish to notify you that Dangote Petroleum Refinery &amp; 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,\u201d the communication read.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The company further instructed customers currently engaged in naira-based transactions to submit formal requests for refunds.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cPlease 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,\u201d it added.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">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\u2019s crude-for-naira deal, a development that led to price spikes at the pump, with petrol climbing close to \u20a61,000 per litre.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">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 \u20a6900 per litre as petrol marketers may now need to transact exclusively in U.S. dollars.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cThe 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,\u201d Olatide cautioned.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">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.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Union leaders have condemned the layoffs as \u201cunjust and anti-worker,\u201d warning of imminent nationwide protests and solidarity actions unless the issue is swiftly addressed. They are also calling on the federal government to intervene.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">With the Dangote Refinery widely regarded as a cornerstone of Nigeria\u2019s 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.<\/div>\n<div id=\"m_-7488742453356063213ymail_android_signature\" style=\"text-align: justify;\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>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&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":113106,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-122555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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