Dangote Petroleum Refinery has transitioned back to pricing its premium motor spirit in naira to prevent artificial supply shortages caused by fuel importers withholding product to drive up prices.
The pivot away from dollar-denominated transactions aims to protect Nigerian consumers from sudden price spikes and restore stability to the domestic market.
Crude supply challenges
The refinery originally introduced dollar pricing for gantry sales after encountering crude oil supply bottlenecks within the Nigeria federal government's naira-for-crude framework.
However, this short-term arrangement forced independent petroleum marketers to pause product loading due to severe foreign exchange shortages, subsequently driving up rates across private distribution depots.
