In a major relief to Nigerians, the Dangote Petroleum Refinery has announced the resumption of Premium Motor Spirit (PMS) sales in Naira, following intervention by the Federal Government.
The update was contained in an email to customers on Saturday. The refinery disclosed that the move came after the intervention of the Naira for Crude Technical Committee Chairman.
The statement read:
“Dear Valued Customer, 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.
“You may kindly proceed to place your orders in Naira for both self-collection and free delivery of PMS to the earlier advised location(s) across the country.
“Thank you for your continued patronage. Warm regards, Group Commercial Operations. For: Dangote Petroleum Refinery and Petrochemicals FZE.”
The latest development has averted an imminent nationwide fuel price hike, which would have further strained the pockets of Nigerians already battling high living costs.
Recall that the $20 billion refinery, with a capacity of 650,000 barrels per day, had earlier suspended the sale of petrol in Naira, sparking concerns across the country.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) had earlier on Saturday hinted at possible price increases in the market due to the suspension. However, with this intervention, marketers can now place fresh orders in Naira, restoring calm in the sector.
Industry watchers believe this move will stabilize the supply of petrol in the short term, while preventing panic buying and hoarding.
