Fuel Price Hike Averted as Dangote Refinery Agrees to sell Petrol in Naira

Dangote Refinery has resumed the sale of Premium Motor Spirit (PMS) in naira after intervention by the Federal Government, according to an email sent to customers and seen by NIGERIA NEWS 247 on Saturday.

The refinery attributed the resumption to the efforts of the Naira for Crude Technical Committee chairman.

The statement read: “Dear Valued Customer, 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. You may kindly proceed to place your orders in Naira for both self-collection and free delivery of PMS to the earlier advised location(s) across the country. Thank you for your continued patronage.”

This development has helped avert a potential nationwide fuel price hike. The 650,000-barrel-per-day refinery had previously suspended petrol sales in naira, amid announcements from the Independent Petroleum Marketers Association of Nigeria regarding plans to increase fuel prices.