The Business NG - March 26, 2025

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Today's editorial edition focuses on the growing concerns surrounding Nigeria's fuel price volatility, particularly in light of Dangote Refinery’s decision to sell petroleum products in dollars. The refinery’s move, which includes exporting jet fuel to the United States while disputing the naira-for-crude policy with the Nigerian National Petroleum Company Limited (NNPCL), has sparked tensions within the market.

Petroleum marketers and depot owners argue that this decision could lead to higher fuel prices, adding further strain to consumers already struggling with inflation. They accuse the refinery of leveraging its position to pressure the government into securing a more favorable crude supply deal. Meanwhile, Dangote Refinery insists that aligning sales with dollar transactions is necessary to match its crude purchase obligations.

With the federal government’s technical sub-committee failing to reach a resolution on the naira-for-crude arrangement, uncertainty persists. Today’s editorial examines the implications of this standoff, its impact on fuel pricing, and the broader economic consequences for Nigeria.