The Dangote Petroleum Refinery reverted to the sale of petrol in naira because importers were allegedly holding back their stocks, a management official of the company has told The PUNCH.
The official, who pleaded for anonymity because he was not authorised to speak to the media, told our correspondent that the refinery’s decision to halt dollar-denominated fuel sales was not because the issue of crude oil shortage had been resolved.
He said the reversal was taken in the interest of the country to prevent fuel scarcity and further increases in petrol prices. According to him, the importers were deliberately holding back their stocks in anticipation of higher fuel prices.
“We took a decision in the interest of the country to start selling Premium Motor Spirit in naira, since we saw that the importers were holding back their goods, looking for a price rise,” the source said.
The Dangote refinery recently resumed the sale of petrol in naira, ending its brief dollar-denominated pricing regime. A notice issued by the refinery’s commercial department on Wednesday informed customers that the gantry price of petrol was N1,215 per litre, while the coastal price was N1,602,495 per metric tonne.
