Nigeria’s petroleum regulator has confirmed that Dangote Refinery is permitted to sell fuel in US dollars. This decision relies on provisions within the Petroleum Industry Act (PIA) that allow for cost recovery in foreign currency. The authorization allows the refinery to price its products based on dollar costs, potentially impacting fuel prices for consumers. This move is expected to affect fuel marketers and the broader Nigerian fuel market dynamics. The PIA aims to encourage investment in the petroleum sector by providing a framework for recouping investments. Further details on the specifics of this arrangement are available via Punch News.