Dangote Refinery Switches Fuel Pricing to Naira to Combat Shortages and Inflation BODY: Lagos, Nigeria – The Dangote Petroleum Refinery, the largest single-train refinery globally, has reverted to pricing its premium motor spirit in naira, a strategic move aimed at curbing artificial supply shortages and stabilizing Nigeria’s fuel market. This shift, implemented in early July 2026, comes in response to fuel importers’tactics of withholding supply to artificially inflate prices.
The decision to switch from dollar — based sales to naira pricing was necessitated by the need to prevent importers from manipulating the market, a practice that has historically led to fuel shortages and inflation.
The Dangote Refinery, which has a full capacity of 650,000 barrels per day, is a cornerstone of Nigeria’s oil economy, poised to significantly reduce the country’s reliance on imported refined products. Established to address the issue of Nigeria’s reliance on imports for refined products, the Dangote Refinery, owned by the Dangote Group, represents a monumental investment in the nation’s infrastructure and energy sector. Historically, Nigeria, a major oil producer, has faced high costs and long queues for fuel due to its reliance on imports.
This move to naira pricing follows the successful optimization of critical processing units at the refinery, which has allowed it to reach full capacity and reduce the country’s reliance on imported fuel.
The pivot away from dollar — denominated transactions is expected to protect Nigerian consumers from sudden price spikes and restore stability to the domestic market. Industry experts anticipate that the Dangote Refinery’s continued operation at full capacity will lead to further stabilization of Nigeria’s fuel market, potentially resulting in reduced fuel prices and improved availability.
As the Dangote Refinery continues to make strides towards energy independence, this shift in pricing strategy marks a significant milestone in Nigeria’s journey towards a more stable and self-sufficient energy landscape.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
Source: Africa.businessinsider
Source: Awogbemila Temitope
