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Dangote Refinery shifts to dollar transactions, raising concerns over potential fuel price hikes in NigeriaNew pricing regime ties fuel costs to exchange rate fluctuations, affecting consumers and businesses alikeEconomic pressures escalate as rising energy costs threaten household incomes amidst high living expenses
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigeria’s downstream oil sector has entered another major turning point after Dangote Petroleum Refinery announced that it has stopped selling petroleum products in naira, switching instead to U.S. dollar-denominated transactions.
Under the new pricing regime, petrol (Premium Motor Spirit) will now sell at $0.779 per litre, diesel (Automotive Gas Oil) at $1.087 per litre, while aviation fuel (ATK) will be priced at $0.985 per litre, according to data from PetroleumPriceNG.
Experts predict high fuel prices in Nigeria as the Dangote Refinery begins selling fuel in dollars. Credit: Bloomberg/ContributorSource: Facebook
The decision has sparked widespread
