Dangote Petroleum Refinery has resumed selling petrol in naira just 24 hours after its suspension.
The reversal came following direct intervention from the federal government’s naira-for-crude technical committee chairman.
In a Saturday email to clients, the refinery confirmed the resumption with immediate effect. “Following the intervention of the Naira for Crude Technical committee chairman, we are pleased to inform you of the resumption of PMS Sales in Naira commencing immediately,” the communication stated.
The refinery also encouraged customers to proceed with naira-denominated orders. “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,” the email added.
Friday’s suspension stemmed from the depletion of Dangote’s crude-for-naira allocation. This marked a significant setback for Nigeria’s ambitious local currency petroleum trading program launched on October 1, 2024.
The naira-for-crude initiative aims to improve petroleum supply while saving Nigeria millions of dollars in import costs. The policy’s ultimate goal involves reducing pump prices for Nigerian consumers through enhanced local refinery capacity utilization.
The Nigerian National Petroleum Company Limited previously halted the naira-for-crude deal until 2030 in March 2025, citing forward-sold crude oil commitments. However, the federal government announced the program’s continuation beyond the first phase, which ended March 31.
Finance Minister Wale Edun promised further updates on the deal’s progress in May 2025, indicating ongoing government commitment to the initiative’s success.
