Dangote Refinery has shifted from using naira to US dollars for pricing petrol, sparking debates about economic stability and market dynamics.The decision comes after months of tension under the naira-for-crude policy, where domestic crude oil supply was limited, forcing the refinery to rely on imported crude.This move has raised concerns among marketers about currency mismatch, as they now need to obtain dollars to buy products but sell them in naira.Experts warn that this could increase exchange rate volatility and pressure on the naira, potentially affecting inflation and imported goods.The refinery’s status as a Free Trade Zone enterprise legally allows foreign currency transactions, but critics argue the policy lacks transparency.

While some see it as a commercial necessity due to reliance on imported crude, others fear it could lead to downstream dollarisation of Nigeria’s petroleum market.

The government is urged to focus on macroeconomic stability and improving crude supply to domestic refineries rather than controlling fuel prices directly.This shift highlights the challenges of balancing economic realities with policy frameworks in a deregulated market.