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FG intervention pushes Dangote Refinery back to naira petrol sales

Dangote Petroleum Refinery has resumed petrol sales in naira a day after putting the initiative on hold.

In an email to clients on Saturday, Dangote refinery stated that the resumption was due to the federal government’s assistance.

“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,” the email reads.

“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.”

On Friday, the refinery ceased petrol sales in naira due to a depleted crude-for-naira allocation.

On October 1, 2024, Nigeria began selling crude oil and processed petroleum products in naira to local refineries. This move aims to enhance supplies, save millions of dollars on petroleum imports, and lower pump costs.

On March 10, 2025, it was announced that the Nigerian National Petroleum Company (NNPC) Limited terminated the naira-for-crude agreement until 2030. The government-owned company has forward-sold all of its crude oil.

The federal government said on April 9 that the naira-for-crude oil agreement will be extended beyond the first phase, which expired on March 31.

On May 9, Wale Edun, Minister of Finance and Coordinating Minister of the Economy, vowed to deliver updates on the naira-for-crude agreement in due time.

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