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By Fatima Mukhtar
The Dangote Petroleum Refinery has announced that it will no longer sell Premium Motor Spirit (PMS) in naira, sparking concerns among marketers over possible fuel price increases and fresh strain on Nigeria’s foreign exchange market.
In a notice sent to customers at 6:42 p.m. on Friday, the refinery said the suspension would take effect from Sunday, September 28, 2025, after exhausting its crude-for-naira allocation.
The circular, issued by the Group Commercial Operations of Dangote Petroleum Refinery & Petrochemicals and titled “Suspension of DPRP PMS Naira Sales – Effective 28th September 2025”, instructed customers with pending naira transactions to request refunds.
It stated: “Dangote Petroleum Refinery & Petrochemicals has been selling beyond our crude-for-naira allocations, and as such, we cannot continue PMS sales in naira. This suspension will be effective from Sunday, 28th September 2025. Updates on resumption will be communicated once the issue is resolved.”
The development comes amid industrial unrest at the refinery, where labour unions have accused management of dismissing over 800 Nigerian employees. The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) condemned the action on Friday and threatened nationwide solidarity protests if the dispute remains unresolved.
This is not the first time the refinery has halted local currency transactions. In March 2025, a similar suspension pushed pump prices close to ₦1,000 per litre and intensified fears of Nigeria’s fuel market becoming dollar-dependent.
Energy analysts say the latest move could trigger another round of volatility. Jeremiah Olatide, Chief Executive Officer of Petroleumprice.ng, projected that petrol prices may climb above ₦900 per litre, noting that the refinery had previously helped keep prices in check.
With the facility regarded as central to Nigeria’s energy security, experts warn that the twin challenges of halted naira sales and labour disputes could derail government reforms aimed at stabilising the downstream petroleum sector.
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