The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has strongly opposed Dangote Petroleum Refinery’s decision to sell refined petroleum products in dollars.
The association has called on the Federal Government to prevent the implementation of this policy, warning that it could worsen inflation and create additional economic strain.
Speaking on Tuesday, PETROAN President Billy Gillis-Harry expressed concerns over the impact of the move, particularly as Dangote continues exporting fuel, including two million barrels of aviation fuel, to the United States.
“We reject the sale of petroleum products in dollars within Nigeria. Such a decision will put unnecessary pressure on foreign exchange and worsen inflation.
“The government must ensure that all transactions are conducted in naira to protect the economy,” he stated.
Despite the activation of three refineries, including the Nigerian National Petroleum Company Limited’s plants and Dangote’s 650,000 barrels-per-day facility, PETROAN noted that local production still falls short of meeting national fuel demand.
The association stressed that keeping the importation window open is necessary to maintain market stability.
PETROAN also addressed concerns over panic buying caused by Dangote’s temporary suspension of naira sales, assuring Nigerians that fuel supplies remain stable.
Meanwhile, Dangote has intensified fuel exports, particularly aviation fuel, with multiple shipments reaching the United States this month.
Experts suggest these exports could influence global fuel prices, particularly in the US, where demand is expected to rise during the summer travel season