Dangote Refinery Resumes Premium Motor Spirit Sales in Naira

The Dangote Refinery has announced the resumption of sales of Premium Motor Spirit (PMS) in naira, following intervention from the Federal Government. This development was disclosed in an email to customers, which stated that the decision was made after the Naira for Crude Technical Committee Chairman intervened in the matter.

According to the refinery, customers can now place orders for PMS in naira for both self-collection and free delivery to various locations across the country. The email, signed by the Group Commercial Operations for Dangote Petroleum Refinery and Petrochemicals FZE, expressed appreciation for customers’ continued patronage.

This move has averted a potential nationwide fuel price hike, which had been a concern after the Independent Petroleum Marketers Association of Nigeria announced plans to increase fuel prices on Saturday. The 650,000-barrel-per-day refinery had previously suspended petrol sales in naira, prompting speculation about a possible price hike.

The resumption of PMS sales in naira is expected to bring relief to consumers and businesses that rely on the fuel for their operations. The Dangote Refinery’s decision to restart sales in the local currency is seen as a positive development, as it will help to stabilize fuel prices and maintain economic activity.

The Nigerian government’s intervention in the matter highlights its commitment to ensuring the availability of affordable fuel for its citizens. The Naira for Crude Technical Committee Chairman’s involvement in resolving the issue demonstrates the government’s willingness to engage with stakeholders to address challenges in the energy sector.

As the Nigerian economy continues to navigate challenges related to fuel pricing and availability, the Dangote Refinery’s decision to resume PMS sales in naira is a welcome development. The refinery’s actions are expected to have a positive impact on the economy, and consumers will be closely watching the situation to see how it unfolds in the coming days.