Dangote Refinery Resumes Naira Petrol Sales, Alleges Importers Hoarded Supply

Dangote Petroleum Refinery says it resumed selling petrol in naira after observing that some importers were holding back supplies in anticipation of higher prices. A refinery official said the decision was taken to reduce the risk of fuel scarcity and further pump-price increases. The refinery had briefly switched to dollar-denominated petrol sales, saying it needed foreign exchange to buy additional crude after supplies under the naira-for-crude arrangement became inadequate. Independent marketers then suspended loading, citing difficulty accessing dollars. The refinery has now fixed its gantry price at ₦1,215 per litre, while depot prices have reportedly fallen to between ₦1,215 and ₦1,220 per litre. Pump prices remain around ₦1,260 to ₦1,300 per litre, depending on location. The company says discussions with the Federal Government on crude supply are ongoing. Rising global oil prices and tensions affecting shipping routes could still put further pressure on fuel costs and inflation.

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