The Dangote Petroleum Refinery has reinstated the sale of Premium Motor Spirit (PMS) in Naira, reversing its earlier decision to halt local currency transactions.
In a notice sent to partners on Saturday, September 27, 2025, the refinery confirmed that the change followed the intervention of the Naira-for-Crude Transaction Committee, chaired by Dr. Zacch Adedeji. The company announced that orders can now be placed in Naira, both for self-collection and for free delivery at previously designated locations across the country.
The reversal came less than 24 hours after the refinery announced plans to stop selling petrol in Naira, citing that it had already exceeded the allocation of crude it was permitted to lift under the Naira-for-Crude arrangement. The earlier suspension, scheduled to take effect on Sunday, September 28, had raised fears of fresh fuel scarcity and price hikes.
The Naira-for-Crude policy, introduced by the federal government, was designed to supply local refineries with crude while allowing them to pay in Naira rather than U.S. dollars. The framework aims to strengthen domestic refining capacity, conserve foreign exchange, and reduce reliance on imported fuel.
Industry analysts say the reinstatement will bring relief to marketers and consumers who had expressed concern over the refinery’s earlier announcement. However, they also note that sustaining Naira-based sales will depend heavily on consistent crude supply, government support, and the refinery’s ability to manage its foreign exchange obligations.
The refinery, owned by Africa’s richest man, Aliko Dangote, is seen as a game-changer in Nigeria’s oil sector, with the capacity to refine 650,000 barrels per day when fully operational.The federal government, through the NNPC and the Naira-for-Crude Committee, is expected to continue close engagement with the refinery to stabilize the policy and ensure uninterrupted fuel supply across the country.
