Dare Babalola
Dangote Refinery has resumed sales of Premium Motor Spirit (PMS) in naira following the intervention of the Federal Government.
Recall that the refinery had earlier suspended the sales of petrol in naira, saying the move is necessary to avoid a currency mismatch with its crude oil purchase obligations, which are currently denominated in U.S. dollars.
This was contained in an email sent to its customers at exactly 6:42 pm on Friday, where the refinery said the suspension of naira transactions would begin on Sunday, September 28, citing the exhaustion of its crude-for-naira allocation.
The company, in the notice signed by the Group Commercial Operations of Dangote Petroleum Refinery & Petrochemicals, explained that it had already exceeded its allocation under the programme and could no longer sustain local currency sales.
However, in an email by its Group Commercial Operations late Saturday, Dangote stressed that the development followed the intervention of the Naira for Crude Technical Committee Chairman.
“Dear Valued Customer, following the intervention of the Naira for Crude Technical Committee chairman, we are pleased to inform you of the resumption of PMS sales in Naira commencing immediately.
“You may kindly proceed to place your orders in Naira for both self-collection and free delivery of PMS to the earlier advised location(s) across the country.
“Thank you for your continued patronage. Warm regards, Group Commercial Operations.
“For: Dangote Petroleum Refinery and Petrochemicals FZE”, the statement reads.
The development has averted a nationwide fuel price hike.
Recall that the 650,000-barrel-per-day refinery had suspended petrol sales in naira.
The Independent Petroleum Marketers Association of Nigeria had earlier on Saturday announced plans to hike fuel prices.
