Dangote Refinery halts petrol sales in Naira from September 28, 2025 after exhausting crude oil allocations priced in local currency.
In a major development set to shake Nigeria’s oil and gas market, the Dangote Refinery has announced it will suspend the sale of petrol in Naira starting Saturday, September 28, 2025.
According to an official statement from the refinery, the decision follows the complete exhaustion of its crude oil allocations priced in the local currency. This means that going forward, petrol purchases from the facility will no longer be conducted in Naira.
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Industry analysts suggest that this move could significantly impact fuel availability and pricing across Nigeria. With the refinery being one of Africa’s largest, its shift away from the Naira-based transaction model signals an increasing reliance on foreign exchange for crude oil and refined products.
The Dangote Refinery, commissioned to reduce Nigeria’s dependence on imported fuel, had previously sold petrol in Naira to support local marketers and stabilize the domestic market. However, the refinery now says it is left with no choice but to transition to a different payment system due to the exhaustion of Naira-priced allocations.
Experts warn that this change may affect smaller fuel marketers who depend on local currency transactions, potentially leading to price adjustments at filling stations nationwide. Some stakeholders also believe the decision underscores the growing need for Nigeria to address its foreign exchange challenges and create more stable pricing models for the petroleum industry.
The suspension of Naira transactions at the Dangote Refinery marks a pivotal shift in Nigeria’s downstream oil sector and could reshape the future of fuel sales in the country.
I thought it’s against CBN rules doing transactions in Nigeria with foreign currency