{"id":156432,"date":"2025-03-25T11:55:51","date_gmt":"2025-03-25T10:55:51","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/fuel-price-naira-for-crude-dangote-refinery-blackmailing-nigerian-govt-marketers-depot-owners"},"modified":"2025-04-04T13:13:18","modified_gmt":"2025-04-04T12:13:18","slug":"fuel-price-naira-for-crude-dangote-refinery-blackmailing-nigerian-govt-marketers-depot-owners","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/fuel-price-naira-for-crude-dangote-refinery-blackmailing-nigerian-govt-marketers-depot-owners","title":{"rendered":"Fuel price, Naira-for-crude: Dangote Refinery blackmailing Nigerian govt \u2013 Marketers, depot owners"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>Petroleum products marketers and depot owners in Nigeria\u2019s oil and gas sector have accused Dangote Refinery of blackmailing the Nigerian government over a naira-for-crude sales deal, amid the premium motor spirit price uncertainty.<\/p>\n<p>This comes as the federal government\u2019s technical Sub-Committee on Domestic Sales of Crude Oil and Refined Products failed to meet on Monday over discussion to know the fate of the Naira-for-crude sale deal with Dangote Refinery through the Nigerian National Petroleum Company.<\/p>\n<p>A reliable source familiar with the dealings of the sub-committee chaired by the executive chairman of the Federal Inland Revenue Service, Zacch Adedeji, who preferred anonymity, disclosed on Monday.<\/p>\n<p>He said the committee did not meet as earlier planned on Monday because the Nigerian Upstream Petroleum Regulatory Commission did not submit a report on the availability of crude and assessment of the situation.<\/p>\n<p>\u201cThe meeting did not hold because NUPRC did not submit its report assessing the situation of things,\u201d<\/p>\n<p>Meanwhile, a top executive at Depot and the Petroleum Products Marketers Association of Nigeria noted that Dangote Refinery, by suspending its petroleum products sales in Naira, allegedly wants to incite the public against the Nigerian Government.<\/p>\n<p>According to him, prior to the Naira-for-crude deal, petroleum products marketers and retailers have been buying imported Premium Motor Spirit in dollars, stressing that Dangote Refinery product sales in dollars will not make any difference or cost disruption.<\/p>\n<p>He added that Dangote Refinery\u2019s decision to suspend its products sales in Naira was to bully the Nigerian government into a fresh Naira-for-crude deal.<\/p>\n<p>\u201cWhen marketers were importing fuel under the subsidy regime, they were paying in dollars.<\/p>\n<p>\u201cIf we pay Dangote Refinery for petroleum products in dollars, there won\u2019t be any difference. Even before Dangote Refinery was given the privilege of buying crude in Naira, we were buying the petroleum product in dollars.<\/p>\n<p>\u201cWhat Dangote Refinery is doing is cheap blackmail. Technically, Dangote is trying to incite the people against the government.<\/p>\n<p>\u201cDangote didn\u2019t reduce the price of its products because he loves Nigerians, but for competitive advantages,\u201d he stated.<\/p>\n<p>Earlier in a statement, DAPPMAN\u2019s executive director, Olufemi Adewole, said that the Naira-for-crude oil transaction framework presents significant risks that could affect Nigeria\u2019s foreign exchange stability and deter foreign direct investment, FDI.<\/p>\n<p>\u201cThe global oil market operates in U.S. dollars due to its stability. Continuing the policy could alienate trade partners and investors who rely on the predictability of the dollar,\u201d he stated.<\/p>\n<p>Recall that Dangote Refinery on Wednesday last week announced the suspension of its product sales in Naira.<\/p>\n<p>The 650,000 barrels per day refinery explained that its decision to halt the deal was to \u201cavoid a mismatch between its sales proceeds and crude purchase obligations.\u201d<\/p>\n<p>Although Dangote Refinery is yet to release a fresh petroleum products price template, it would reflect its pricing policy when announced.<\/p>\n<p>Meanwhile, marketers and retailers have announced readiness to seek alternative outside Dangote Refinery\u2019s petroleum products should the refinery\u2019s price not be favourable.<\/p>\n<p>DAILY POST reports that barely a week ago, the Lekki-Lagos based refinery reduced its ex-depot price of petrol to N815 per litre from N825 as of the time the Naira-for-crude deal subsisted.<\/p>\n<p>Data from the Major Energies Marketers Association of Nigeria showed that the landing cost of fuel stood at N797.66 per litre as of 14 March, 2025.<\/p>\n<p>However, since Dangote Refinery went public on its decision to commence petrol product sales in Dollar, there has been panicking about an eminent retail fuel price hike.<\/p>\n<p>Currently, Nigerians buy NNPC and Dangote Refinery\u2019s fuel between N860 and N880 per litre in Lagos and Abuja.<\/p>\n<p>Other independent petroleum product marketers and retailers sell the product for between N920 and N950 per litre in filling stations, depending on the location.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. Petroleum products marketers and depot owners in Nigeria\u2019s oil and gas sector have accused Dangote Refinery of blackmailing the Nigerian government over a naira-for-crude sales deal, amid the premium motor spirit price uncertainty. This comes as the federal government\u2019s technical Sub-Committee on Domestic Sales of Crude Oil and Refined Products failed to [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":156431,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[1233,772,254],"class_list":["post-156432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-dangote","tag-fuel","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fuel price, Naira-for-crude: Dangote Refinery blackmailing Nigerian govt \u2013 Marketers, depot owners - Nigeria<\/title>\n<meta name=\"description\" content=\"Petroleum products marketers and depot owners in Nigeria\u2019s oil and gas sector have accused Dangote Refinery of blackmail ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/fuel-price-naira-for-crude-dangote-refinery-blackmailing-nigerian-govt-marketers-depot-owners\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fuel price, Naira-for-crude: Dangote Refinery blackmailing Nigerian govt \u2013 Marketers, depot owners\" \/>\n<meta property=\"og:description\" content=\"Petroleum products marketers and depot owners in Nigeria\u2019s oil and gas sector have accused Dangote Refinery of blackmail ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/fuel-price-naira-for-crude-dangote-refinery-blackmailing-nigerian-govt-marketers-depot-owners\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-25T10:55:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-04T12:13:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/03\/sm_1742891314.791207.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"411\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/fuel-price-naira-for-crude-dangote-refinery-blackmailing-nigerian-govt-marketers-depot-owners#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/fuel-price-naira-for-crude-dangote-refinery-blackmailing-nigerian-govt-marketers-depot-owners\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Fuel price, Naira-for-crude: Dangote Refinery blackmailing Nigerian govt \u2013 Marketers, depot owners\",\"datePublished\":\"2025-03-25T10:55:51+00:00\",\"dateModified\":\"2025-04-04T12:13:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/fuel-price-naira-for-crude-dangote-refinery-blackmailing-nigerian-govt-marketers-depot-owners\"},\"wordCount\":648,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/fuel-price-naira-for-crude-dangote-refinery-blackmailing-nigerian-govt-marketers-depot-owners#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/03\/sm_1742891314.791207.jpg\",\"keywords\":[\"Dangote\",\"fuel\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/fuel-price-naira-for-crude-dangote-refinery-blackmailing-nigerian-govt-marketers-depot-owners#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/fuel-price-naira-for-crude-dangote-refinery-blackmailing-nigerian-govt-marketers-depot-owners\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/fuel-price-naira-for-crude-dangote-refinery-blackmailing-nigerian-govt-marketers-depot-owners\",\"name\":\"Fuel price, Naira-for-crude: Dangote Refinery blackmailing Nigerian govt \u2013 Marketers, depot owners - 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