There are growing fears that petrol pump prices could rise again as Dangote Refinery has suspended sales of Premium Motor Spirit (PMS) in naira.
The refinery issued a notice to marketers on Friday, announcing that the suspension would take effect from Sunday, September 28, 2025.
The company explained that the decision followed the exhaustion of its crude-for-naira allocation.
The notice, signed by the Group Commercial Operations of Dangote Petroleum Refinery & Petrochemicals, was titled “Suspension of DPRP PMS Naira Sales – Effective 28th September 2025.”
Dangote Refinery stated that it had been selling more petroleum products than its allocation under the crude-for-naira programme, making it impossible to continue naira transactions.
It also directed customers with ongoing naira-based deals to apply for refunds.
The notice read in part:
“We have been selling petroleum products in excess of our naira-crude allocations and, consequently, we are unable to sustain PMS sales in naira going forward.
Kindly note that this suspension of naira sales for PMS will be effective from Sunday, September 28, 2025. We will provide further updates on the resumption of supply once the situation has been resolved.”
This is not the first time Dangote Refinery has halted naira transactions.
In March 2025, the refinery briefly stopped selling refined products in naira, citing inadequate crude-for-naira allocations.
That decision triggered a surge in fuel prices, pushing petrol close to ₦1,000 per litre and raising fears about dollarisation of fuel sales in Nigeria.
However, industry stakeholders are working to calm public anxiety.
The Executive Secretary of the Major Energies Marketers Association of Nigeria (MEMAN), Clement Isong, assured that the issue would be resolved. Speaking to Leadership, he stressed that selling petrol in dollars in Nigeria was not possible.
“I don’t think it calls for panic and I can assure you that this will be resolved,” Isong said.
Despite his reassurance, many Nigerians remain concerned that another increase at the pumps could be imminent.
With the cost of living already stretched, the suspension of naira sales has reignited debates over fuel pricing, government regulation, and the refinery’s role in stabilising the domestic market.
