Independent petroleum marketers and energy experts have rejected the Dangote Petroleum Refinery’s decision to introduce United States dollar denominated pricing for petroleum products, warning that the move could worsen foreign exchange pressures and trigger fresh instability in the downstream sector.
The Independent Petroleum Marketers Association of Nigeria, on its part, urged President Bola Tinubu to urgently intervene and ensure the continuation of the crude for naira arrangement, warning that tying fuel prices to the dollar could increase pump price volatility
The controversy followed Dangote Petroleum Refinery’s decision to quote ex depot prices for Premium Motor Spirit, Automotive Gas Oil and aviation fuel in United States dollars for gantry and coastal transactions.
In a mail to marketers on Monday, it said, “Following our email on the 9th of July, 2026, regarding the transition from Naira to United States Dollars, please note that all issued Naira Coastal and Gantry PFIs/Deal Recaps are now invalid, and no payments should be made against them.