Dangote Petroleum Refinery has resumed Premium Motor Spirit (PMS) sales in Naira, less than a day after announcing a suspension. The reversal followed intervention from the Federal Government’s Naira-for-Crude Technical Committee.
In a memo to marketers on Saturday, the refinery confirmed the update.
“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. 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. Thank you for your continued patronage,” the notice read.
Suspension Triggered Concerns
On Friday, the refinery announced it would halt Naira sales starting Sunday, September 28, 2025. The management explained that it had exceeded its Naira-denominated crude allocations and could no longer sustain fuel sales in the local currency.
The Friday memo stated:
“We write to inform you that Dangote Petroleum Refinery & Petrochemicals has been selling petroleum products in excess of our Naira-crude allocations. Consequently, we are unable to sustain PMS sales in Naira going forward. Kindly note that this suspension will be effective from Sunday, 28th of September, 2025. We will provide further updates once the situation is resolved. All customers with PMS transactions in Naira who would like a refund of their payments should formally request the processing of their refund.”
The announcement unsettled marketers and fuel traders. It also raised fears of a sharp increase in pump prices. Analysts warned that prices could rise above ₦900 per litre if the market shifted fully to dollar-based sales.
Government Stepped In
The Federal Government quickly intervened through the Naira-for-Crude Technical Committee. The panel resolved the dispute and directed the refinery to restore Naira transactions.
By Saturday evening, Dangote Refinery had issued a fresh memo reinstating sales in the local currency. The move calmed immediate concerns about supply and pricing.
Industry experts noted that government action helped avert a potential price surge. However, they warned that repeated suspensions and reversals risk weakening market confidence in the refinery’s pricing structure.