The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has confirmed that Dangote Refinery is still selling fuel in naira despite earlier reports suggesting a shift to dollar transactions. PETROAN President Billy Gillis-Harry stated that their members have continued to purchase petroleum products from the refinery using the local currency, and they have not received any official communication regarding a change in this policy.
There were speculations that Dangote Refinery might suspend fuel sales in naira due to challenges in securing crude oil, which is priced in U.S. dollars. The refinery had previously indicated that purchasing crude in dollars while selling refined products in naira created financial difficulties. However, PETROAN’s latest update suggests that no such change has taken place.
Gillis-Harry reiterated PETROAN’s stance that petroleum product sales within Nigeria should remain in naira to prevent further pressure on the country’s currency. He urged the federal government to intervene and ensure that all local fuel transactions are conducted in the national currency, emphasizing the importance of maintaining economic stability.
As of now, Dangote Refinery has not officially implemented dollar transactions, and fuel sales to retailers continue in naira. Industry stakeholders and consumers are closely monitoring the situation, as any shift in the pricing mechanism could have significant implications for fuel availability and pump prices in Nigeria.
