Dangote Refinery Resumes Naira Sales of PMS

Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS) in naira, providing a measure of relief to marketers and consumers. The Gantry price is fixed at N1,215/litre.

The refinery announced the development in a statement issued on Wednesday, confirming that marketers can once again purchase the product in the local currency.

The move comes days after the refinery disclosed on July 14 that petroleum products would temporarily be sold to marketers in dollars.

Following the return to naira transactions, Dangote Refinery said its gantry price for petrol has been set at N1,215 per litre.

“Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS) in naira, providing a measure of relief to marketers and consumers,” the refinery said.

“The Gantry price is fixed at N1,215/ litre.”

The new price represents a N140 increase from the previous price of N1,175 per litre.

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On July 20, the Independent Petroleum Marketers Association of Nigeria (IPMAN) said marketers temporarily stopped loading petrol at the Dangote refinery.

Oyewole Akanni, zonal chairman of IPMAN, western zone, said the development was propelled by Dangote refinery’s suspension of petrol loading operations at its gantry.

Akanni said marketers had to obtain petrol from private depots at considerably higher prices.

“The non-availability of fuel at some filling stations and the closure of others are due to fluctuations in the price of lifting fuel from depots,” he said.

Akanni said after Dangote refinery stopped selling PMS, private depot owners increased their prices.