After a 22-day suspension, Dangote Refinery has resumed selling petroleum products in naira, announcing a price cut for petrol to N865 per litre from N880, effective April 10, 2025. This N15 reduction, inclusive of NMDPRA charges, is expected to lower pump prices nationwide, with stations like MRS Oil and Ardova potentially dropping to N910 per litre.

Other products like diesel and aviation fuel remain priced in dollars, and coastal vessel sales of petrol are on hold. The move aligns with the Federal Executive Council’s directive to fully implement the naira-for-crude agreement with local refineries, aimed at reducing Nigeria’s reliance on foreign exchange, stabilizing the forex market, and boosting local refining.

The policy, described as a long-term strategy, seeks to enhance energy security and economic sovereignty. However, some marketers face losses after purchasing at the higher price, creating mixed sentiments. Industry leaders like IPMAN welcome the change, predicting more stable and lower fuel prices, though challenges in implementation persist.