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The Dangote Petroleum Refinery has blamed fuel importers for its decision to resume selling petrol in naira after briefly switching to dollar-denominated transactions. A senior management official told The PUNCH that some importers allegedly withheld their petrol stocks in anticipation of higher prices, creating artificial scarcity in the market and forcing the refinery to reverse its pricing policy to stabilise supply.
According to the refinery, returning to naira sales helped restore stability to the domestic market and discouraged speculative practices. The company maintained that it remains committed to ensuring a steady supply of petrol while supporting the Federal Government’s efforts to reduce pressure on foreign exchange demand. The refinery had earlier resumed naira sales with a revised ex-depot price after temporarily introducing dollar sales.
The development comes amid ongoing competition between locally refined fuel and imported products, with marketers closely monitoring pricing and supply dynamics. Industry stakeholders say the refinery’s decision could influence market prices and availability in the coming weeks as efforts continue to strengthen domestic refining and reduce Nigeria’s dependence on imported petroleum products.
