Nigerian Petroleum Marketers May Switch to Dollar Sales Amid Naira-for-Crude Dispute

Nigerian Petroleum Marketers May Switch to Dollar Sales Amid Naira-for-Crude Dispute

Petroleum marketers in Nigeria could be compelled to sell fuel in U.S. dollars if the ongoing Naira-for-Crude disagreement between the federal government and local refineries, including Dangote Petroleum Refinery, is not resolved.

 This warning was issued by the Independent Petroleum Marketers Association of Nigeria (IPMAN).

Chinedu Ukadike, IPMAN's National Publicity Secretary, expressed concern following Dangote Refinery’s decision to discontinue fuel sales in Naira, opting instead for transactions in dollars. This shift comes after the expiration of the initial Naira-for-Crude arrangement between the refinery and the government.