NGDangote Petroleum Refinery has reverted to selling petrol in Nigerian naira rather than U.S. dollars, citing concerns that importers were withholding stock in anticipation of higher prices. A company official, speaking anonymously, explained that this change was made in the national interest to avoid fuel shortages and rising prices. The refinery previously switched to dollar-denominated sales due to a lack of crude oil supply under the federal government's naira-for-crude program, forcing them to purchase crude internationally. This shift caused disruptions in the downstream petroleum sector, prompting government intervention. The refinery remains in discussions with the government, hoping for cooperation. Nigeria has historically relied on imported petrol despite being a major oil producer, with many of its domestic refineries non-operational.
Bias read (Center): The article presents both the refinery's perspective and the broader context of Nigeria's energy policy, including government actions and industry reactions. It does not exhibit overtly biased language or one-sided sourcing, offering a balanced account of the situation.
