Dangote Refinery Temporarily Halts Petroleum Sales in Naira Due to Dollar-Denominated Crude Purchases, Vows to Resume Once NNPC Allocates Naira-Based Supply
Dangote Petroleum Refinery has announced a temporary suspension of petroleum product sales in naira. In a statement on Wednesday, the Dangote Group cited the need to align sales revenue with crude oil procurement obligations, which are currently denominated in U.S. dollars.
The decision follows reports that the Nigerian National Petroleum Company Limited (NNPC) may have stopped supplying crude oil to the refinery in naira.
Dangote Refinery clarified that this move is temporary and will be reversed once it receives naira-denominated crude allocations from NNPC. It also dismissed claims of halting operations due to ticketing fraud, calling such reports “malicious falsehoods.”
“We remain committed to serving the Nigerian market efficiently and sustainably,” the company assured.
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