Business
PETROAN Warns Nigerians May Start Buying Fuel in Dollars as Dangote Row Escalates
The Petroleum Products Retail Outlets Owners Association of Nigeria has warned that Nigerians may soon begin buying petrol and diesel in US dollars if the Federal Government does not restore the Naira-for-crude deal with Dangote Refinery.
PETROAN National President Billy Gillis-Harry said discussions on the Naira-for-crude deal should be concluded promptly to prevent ordinary Nigerians from suffering the consequences of dollarisation of the downstream sector.
His warning comes after Dangote Refinery shifted to dollar-based pricing last week. Currently, petrol sells for N1,155–N1,220 per litre, while diesel sells for N1,700–N1,800 per litre in Abuja.
Key Points:
PETROAN warns Nigerians may buy fuel in dollars if the Naira-for-crude deal is not restored.
Dangote Refinery shifted to dollar-based pricing last week.
Petrol currently sells for N1,155–N1,220 per litre.
Diesel sells for N1,700–N1,800 per litre in Abuja.
The Federal Government is reportedly in talks with Dangote to resolve the dispute.
The outcome of Federal Government negotiations with Dangote Refinery and whether the Naira-for-crude deal is restored.
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