There have been apprehensions of possible petrol pump price increases following Dangote Refinery stopping the sale of Premium Motor Spirit (PMS) to marketers in naira. The move, which was effective on Sunday, September 28, 2025, was because the refinery’s crude-for-naira quota has been exhausted.
In a notice issued on Friday and signed by Dangote Petroleum Refinery & Petrochemicals Group Commercial Operations, the firm announced that it had exceeded its naira-based crude allocations and could no longer support such transactions. It requested customers with current naira transactions to commence requests for refunds.
It is the second instance that the refinery has suspended local currency transactions. In March 2025, such a move fueled fears of fuel dollarisation and pushed pump prices to almost N1,000 per litre.
Despite growing concerns, the Major Energies Marketers Association of Nigeria (MEMAN) has assured Nigerians that the development will neither trigger dollar-denominated sales nor price hikes. Its Executive Secretary, Clement Isong, said the circumstances do not warrant panic and will soon be corrected.
