Petrol Pump Price May Rise As Dangote Suspends Product Sale In Naira

There were palpable fears of possible increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, following reported suspension of petrol sale to marketers in naira by Dangote Refinery.

The refinery had informed marketers on Friday that the decision would take effect from Sunday, September 28, 2025, citing the exhaustion of its crude-for-naira allocation as the reason.

The notice, reportedly signed by the Group Commercial Operations of Dangote Petroleum Refinery & Petrochemicals, was titled “Suspension of DPRP PMS Naira Sales – Effective 28th September 2025”.

The company also asked customers with ongoing naira-based transactions to formally request refunds.

It read in part, “We write to inform you that Dangote Petroleum Refinery & Petrochemicals has been selling petroleum products in excess of our Naira-Crude allocations and, consequently, we are unable to sustain PMS sales in Naira going forward.

“Kindly note that this suspension of Naira sales for PMS will be effective from Sunday, 28th of September, 2025. We will provide further updates regarding the resumption of supply once the situation has been resolved.

“All customers with PMS transactions in Naira who would like a refund of their current payments should formally request the processing of their refund.”

This is not the first time the refinery has suspended local currency transactions. In March 2025, Dangote briefly halted sales of refined products in naira, insisting that its allocations under the crude-for-naira programme were inadequate to meet growing domestic demand.

The decision then sparked concerns over the dollarisation of fuel sales in Nigeria, escalating prices at the pump to almost N1,000 per litre.

However, major marketers have allayed fears of possible market disruption and pump price hike.

The Executive Secretary of the Major Energies Marketers Association of Nigeria (MEMAN), Mr. Clement Isong, told LEADERSHIP on the phone that it was not possible to sell petrol in dollar in the country.

Speaking with our correspondent on the phone, Isong said the issue will be resolved.

He said, “I dont think it calls for panic and I can assure you that this will be resolved.”