Independent petroleum marketers and energy experts have rejected the Dangote Petroleum Refinery’s decision to price petroleum products in United States dollars, warning that the move could intensify foreign exchange pressures and spark new instability in the downstream oil sector.
Stakeholders, who spoke in separate interviews on Tuesday, acknowledged the refinery’s right as a private entity to make commercial decisions but expressed concerns over the broader economic implications of dollar-denominated pricing for locally consumed fuel.
The controversy erupted after Dangote Refinery notified marketers that it would quote ex-depot prices for Premium Motor Spirit (petrol), Automotive Gas Oil (diesel), and aviation fuel in dollars for gantry and coastal transactions.
The company invalidated previous naira-based invoices, prompting immediate adjustments by depot owners.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) faulted the development, arguing it could gradually push Nigeria toward a dollarised economy and undermine market stability.
PETROAN National President, Billy Gillis-Harry, warned that marketers buying
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