KEY POINTS
- Dangote Refinery suspends naira sales from Sept. 28.
- Labour unions protest mass layoffs of over 800 workers.
- Analysts warn petrol prices could rise above N900.
Nigeria’s Dangote Petroleum Refinery has halted sales of petrol in naira, unsettling fuel marketers and stirring concerns over renewed volatility in pump prices.
In an email sent to customers at 6:42 p.m. Friday, the refinery said the suspension takes effect Sept. 28, citing the exhaustion of its crude-for-naira allocation. Customers with ongoing transactions were asked to request refunds.
Dangote Refinery suspends naira transactions again
This is the second suspension of naira sales in 2025. In March, the refinery briefly halted transactions under the crude-for-naira programme, pushing pump prices close to N1,000 per litre. Analysts warn the latest suspension could again force petrol prices higher if dollar transactions dominate.
Labour tensions add to refinery’s challenges
The refinery is also facing labour unrest. The Petroleum and Natural Gas Senior Staff Association of Nigeria accused the company of anti-labour practices after the dismissal of more than 800 workers. Union leaders have threatened solidarity actions if the decision is not reversed.
Concerns mount over energy security
Analysts warn that the dual crises, Dangote Refinery suspends naira sales and escalating labour tensions could undermine government efforts to stabilise Nigeria’s downstream market. “Petrol prices could soar above N900 per litre,” said Jeremiah Olatide, CEO of Petroleumprice.ng, noting the refinery had been instrumental in keeping prices lower in recent months.
