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Dangote Refinery has shifted fuel transactions from naira to U.S. dollars, impacting petrol prices across NigeriaIncreased exposure to foreign exchange risks drives refinery’s currency switch amid fluctuating global oil pricesFresh price adjustments in the downstream market follow Dangote’s new dollar-based fuel sales policy
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Fresh petrol prices are beginning to emerge across Nigeria’s downstream petroleum market after Dangote Petroleum Refinery announced a major change to its fuel sales policy by switching transactions from the naira to the U.S. dollar.
The new pricing regime, which takes immediate effect, covers Premium Motor Spirit (PMS), popularly known as petrol, Automotive Gas Oil (AGO), also known as diesel, and Aviation Turbine Kerosene (ATK).
New petrol prices emerge nationwide as Dangote Refinery commences fuel sales dollars. Credit: Bloomberg/ContributorSource: Facebook
The policy applies to both gantry sales and coastal deliveries, marking one of
