Dangote Petroleum Refinery and Petrochemicals FZE has resumed the sale of Premium Motor Spirit (PMS) in Naira nationwide, following the intervention of the Naira for Crude Technical Committee chairman.
Nairametrics confirmed the development from a message the refinery sent to its customers on Saturday.
In the message, Dangote Refinery stated: “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.”
The resumption allows customers of the refinery to purchase PMS in Naira, reinstating local currency transactions that were temporarily on hold. Dangote’s Group Commercial Operations added that orders could now be placed immediately.
The development comes as regulatory and industry authorities work to stabilize PMS distribution and promote Naira-based transactions, ensuring smoother operations for suppliers and consumers alike.
What you should know
In October 2024, the Federal Government announced a Naira-to-Crude initiative, under which local refineries, including the world’s largest single-train Dangote Refinery, would receive crude oil supplies in the local currency.
- However, findings by Nairametrics revealed that the implementation of this policy has been inconsistent, leaving refineries struggling to secure sufficient crude in Naira, while Nigerians faced higher pump prices. In February 2025, a reliable source at Dangote Petroleum Refinery and Petrochemicals FZE described the update on crude supplies from the national oil firm as “a progressive reduction.”
- Data from the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had indicated that the Dangote refinery was forecasted to refine 550,000 barrels per day (17.05 million barrels per month) for the first half of 2025. However, documents obtained by Nairametrics earlier in the year showed that under the Naira-to-Crude arrangement, the refinery received only 61,290 barrels per day in February 2025, with a total of 6.5 million barrels allocated for the month.
- Allocation for March 2025 was further reduced to 4.75 million barrels, of which only 1.9 million barrels were designated for purchase in Naira, with the remainder to be bought in US Dollars.
These past allocations were significantly lower than the Federal Government’s stated plan to sell 450,000 barrels per day in Naira to local refineries, of which Dangote was expected to receive 385,000 bpd (or 12 million barrels per month).
The recent September announcement from Dangote Refinery, confirming the resumption of PMS sales in Naira, is a positive development for customers and the downstream sector, allowing orders to be placed immediately for self-collection or free delivery across Nigeria.
