Dangote Refinery Stops Petrol Sales In Naira

The Dangote Petroleum Refinery has announced it will no longer sell petrol in naira, a move that has unsettled marketers and raised concerns over fuel prices and foreign exchange stability.

In a notice sent to customers on Friday evening, the refinery said the suspension would take effect from Sunday, September 28, citing the exhaustion of its crude-for-naira allocation. It explained that sales in local currency had already exceeded the available allocation, making it impossible to continue.

The company advised customers with pending naira-based transactions to apply for refunds. It added that updates on when naira sales would resume would be communicated once the situation is resolved.

The development has sparked unease in the oil sector, with fears that reliance on foreign exchange for petrol purchases could worsen volatility in the market and push pump prices higher.

The announcement comes at a tense time for the refinery, which is also battling accusations of mass layoffs. Labour unions, led by the Petroleum and Natural Gas Senior Staff Association of Nigeria, accused the management of sacking more than 800 workers and threatened nationwide solidarity actions if the matter is not addressed.

The refinery, however, denied the allegations, insisting that only a small number of staff were disengaged for sabotage-related reasons.

This is the second time in 2025 that the facility has suspended naira transactions. In March, it briefly halted local currency sales, blaming inadequate crude-for-naira allocations. That earlier suspension triggered fears of dollarisation in the downstream sector and pushed petrol prices close to ₦1,000 per litre.

With this latest decision, industry players are watching closely for signs of fresh disruptions in fuel supply and pricing as Nigeria’s largest refinery continues to grapple with operational and policy challenges.