The Dangote Oil Refinery has reversed its decision to sell Premium Motor Spirit (PMS), also known as petrol, in dollars, choosing instead to load at the gantry in Nigeria’s local currency (Naira).
Following a week of economic uncertainty owing to Dangote’s decision to load fuel in dollars, the refinery has fixed its new ex-depot (gantry) price to Naira, albeit at a higher cost.
The new price was revised to N1,215 per litre, representing an increase of N140 per litre, or 13.02 per cent, from the previous price of N1,075 per litre.
“Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS) in naira, providing a measure of relief to marketers and consumers,” a statement released on Wednesday read
“The gantry price is fixed at N1,215/ litre,” it added, as seen on Naija News.
