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.
BusinessTimes confirmed the event from a message the refinery despatched to its clients on Saturday.
Within the message, Dangote Refinery said: “Following the intervention of the Naira for Crude Technical Committee chairman, we’re happy to tell you of the resumption of PMS Gross sales in Naira commencing instantly.”
The resumption permits clients of the refinery to buy PMS in Naira, reinstating native foreign money transactions that have been quickly on maintain. Dangote’s Group Industrial Operations added that orders may now be positioned instantly.
The event comes as regulatory and business authorities work to stabilize PMS distribution and promote Naira-based transactions, making certain smoother operations for suppliers and shoppers alike.
What you must know
In October 2024, the Federal Authorities introduced a Naira-to-Crude initiative, underneath which native refineries, together with the world’s largest single-train Dangote Refinery, would obtain crude oil provides within the native foreign money.
- Nevertheless, findings by BusinessTimes revealed that the implementation of this coverage has been inconsistent, leaving refineries struggling to safe adequate crude in Naira, whereas Nigerians confronted greater pump costs. In February 2025, a dependable supply at Dangote Petroleum Refinery and Petrochemicals FZE described the replace on crude provides from the nationwide oil agency as “a progressive discount.”
- Knowledge 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 thirty days) for the primary half of 2025. Nevertheless, paperwork obtained by BusinessTimes earlier within the 12 months confirmed that underneath the Naira-to-Crude association, the refinery acquired solely 61,290 barrels per day in February 2025, with a complete of 6.5 million barrels allotted for the month.
- Allocation for March 2025 was additional decreased to 4.75 million barrels, of which only one.9 million barrels have been designated for buy in Naira, with the rest to be purchased in US {Dollars}.
These previous allocations have been considerably decrease than the Federal Authorities’s said plan to promote 450,000 barrels per day in Naira to native refineries, of which Dangote was anticipated to obtain 385,000 bpd (or 12 million barrels per thirty days).
The latest September announcement from Dangote Refinery, confirming the resumption of PMS gross sales in Naira, is a constructive growth for patrons and the downstream sector, permitting orders to be positioned instantly for self-collection or free supply throughout Nigeria.
