Dangote refinery suspends petrol sales in naira

The Dangote Petroleum Refinery has announced the suspension of petrol sales in naira, a move that has unsettled marketers and raised fresh concerns about fuel pricing and foreign exchange pressure.

In an email sent to its customers at exactly 6:42 pm on Friday, the refinery disclosed that the decision would take effect from Sunday, September 28, 2025, citing the exhaustion of its crude-for-naira allocation as the reason.

The notice, signed by the Group Commercial Operations of Dangote Petroleum Refinery & Petrochemicals, was titled “Suspension of DPRP PMS Naira Sales – Effective 28th September 2025”.

The company also asked customers with ongoing naira-based transactions to formally request refunds.

It read in part, “We write to inform you that Dangote Petroleum Refinery & Petrochemicals has been selling petroleum products in excess of our Naira-Crude allocations and, consequently, we are unable to sustain PMS sales in Naira going forward.

“Kindly note that this suspension of Naira sales for PMS will be effective from Sunday, 28th of September, 2025. We will provide further updates regarding the resumption of supply once the situation has been resolved.

“All customers with PMS transactions in Naira who would like a refund of their current payments should formally request the processing of their refund.”

The announcement comes at a time the refinery is embroiled in a bitter dispute with labour unions over the alleged mass sack of more than 800 Nigerian workers, a development that has triggered outrage and calls for government intervention.

This is not the first time the refinery has suspended local currency transactions. In March 2025, Dangote had briefly halted sales of refined products in naira, insisting that its allocations under the crude-for-naira programme were inadequate to meet growing domestic demand.

The decision then sparked concerns over the dollarisation of fuel sales in Nigeria, escalating prices at the pump to almost N1,000 per litre.

Analysts warn that the latest move could again trigger volatility in the downstream sector, with fears of a potential hike in petrol prices if transactions are shifted predominantly to dollars.

The Chief Executive Officer of Petroleumprice.ng, Jeremiah Olatide, warned that petrol prices could soar above N900 per litre, noting that the Dangote Refinery had been instrumental in keeping pump prices lower in recent months

The suspension also coincides with heightened industrial tension at the refinery. The Petroleum and Natural Gas Senior Staff Association of Nigeria on Friday accused the company of anti-labour practices, following the termination of hundreds of Nigerian workers.

Union leaders have vowed to resist what they described as “an unjust and insensitive corporate decision,” threatening nationwide solidarity actions if the matter is not addressed.

With the refinery seen as critical to Nigeria’s energy security, stakeholders say the dual crises, naira sales suspension, and labour unrest could undermine government efforts to stabilise the fuel market under the current reform agenda.