Dangote reverts to pricing gasoline in naira

Dangote Petroleum Refinery & Petrochemicals Fze reverted to the sale of petroleum products in naira, a week after switching to sales in US dollars.

The gantry price of gasoline has been set at 1 215 naira ($0.89) per liter, compared with 1 075 naira previously, the Lagos-based company said in a statement on Thursday.

The 700 000-barrels-per-day refinery switched to dollar pricing of its products last week to protect the business from losses caused by currency mismatches, as it imports crude in dollars. The decision to sell in naira disrupted suppliers and caused volatility in gasoline prices, Lagos-based newspaper Punch reporter earlier.

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