The Dangote Petroleum Refinery has suspended petrol sales in naira, unsettling fuel marketers and stoking fears of renewed volatility in pump prices and the foreign exchange market.
The move comes as the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) ordered an immediate cutoff of gas and crude oil supplies to the refinery over alleged anti-labour practices.
In a notice to customers on Friday, the refinery said naira transactions would cease from Sunday, September 28, after it exhausted crude-for-naira allocations. Customers with pending orders were advised to seek refunds.
“Dangote Petroleum Refinery & Petrochemicals has been selling petroleum products in excess of our naira-crude allocations and, consequently, we are unable to sustain PMS sales in naira going forward,” the company stated.
This is the second such suspension in 2025, following a similar halt in March that pushed pump prices towards N1,000 per litre amid fears of dollarisation of fuel sales.
Analysts warn the latest move could again destabilise the downstream sector. “Petrol could climb above N900 per litre if transactions shift predominantly to dollars,” said Jeremiah Olatide, CEO of Petroleumprice.ng.
Meanwhile, PENGASSAN has directed its members to block gas supply via the Nigerian Gas Infrastructure Company, shut crude oil valves, and suspend vessel loading.
The union accused Dangote of sacking over 800 workers for attempting to unionise, describing the action as “unjust and insensitive.” It also threatened wider solidarity actions if its demands are ignored
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