‘Keep your dollar close to your chest’: Nigerians react to Dangote Refinery stopping petrol sales in Naira

In a recent development, Dangote Refinery has announced a temporary halt in the sale of petroleum products in Naira, citing the need to align its sales proceeds with its crude oil purchase obligations, which are denominated in US dollars. 

Tribune Online reports that In a statement, the refinery clarified that its Naira-based sales had exceeded the value of Naira-denominated crude it received. It also dismissed reports suggesting that the halt was due to ticketing fraud. 

The company assured that sales in Naira would resume once it receives an allocation of Naira-denominated crude from the Nigerian National Petroleum Company (NNPC).

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The announcement has sparked reactions from Nigerians.

 On X, @anthonyabakporo criticized the refinery, likening it to the ruling All Progressives Congress (APC), saying, “Dangote is as worst as APC, no human face whatsoever from these money mongers.”

Another user, @JoeZ1082819, expressed frustration over the country’s economic policies, arguing that crude oil extracted from Nigerian soil should not require payment in foreign currency. 

He wrote, “The mess in Nigeria is due to few facts tribalism holding the country back the none functioning justice system thr police judiciary the failure of the legislature the unprecedented level of corruption the crude oil is ok Nigeria soil why do you need to buy it in foreign currency.

“So Nigerians are meant to benefits from the nature recourse on their land sorry for those ethnic bigots hope this won’t effect you people if they refineries they are working y they still import petrol Nigeria is a scene it’s time to destroy this British creation called Nigeria.”

Similarly, @bankai_ban compared the situation to U.S. policies aimed at protecting local industries, stating, “U.S. tariffs chains EVs 100% to give Tesla opportunities to grow. He reach Nigeria turn, them they frustrate local refinery to give overseas companies opportunities to grow. Na mumu and selfish politicians full Nigerian government.”

@mandaytry01 commented, “Keep your dollar close to your chest,” implying that securing foreign currency is essential in the current economic climate. 

On Facebook, Law Sunday reacted to the development with concern over fuel prices, saying, “Una wan increase price of fuel again after una don reduce am before? Which kind wahala be this?”

Despite Dangote Refinery’s assurance that it remains committed to serving the Nigerian market efficiently and sustainably, the reactions highlight growing dissatisfaction among citizens over the country’s economic policies and their impact on daily life.

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