Dangote Refinery Temporarily Suspends Naira Sales of Petroleum Products

Abẹ́òkúta, Ìpínlẹ̀ Ògùn, Nigeria – March 19, 2025 – Dangote Petroleum Refinery has announced a temporary suspension of the sale of petroleum products in Naira. In a statement released today, refinery management cited a mismatch between sales proceeds and crude oil purchase obligations, which are currently denominated in U.S. dollars, as the reason for the decision.According to the statement, sales of petroleum products in Naira have exceeded the value of Naira-denominated crude received by the refinery. This necessitates a temporary adjustment of the sales currency to align with the crude procurement currency.The company also addressed recent online reports claiming a halt in loading due to ticketing fraud. Dangote Petroleum Refinery dismissed these reports as “malicious falsehood,” stating that its systems are robust and have had no fraud issues.The refinery reaffirmed its commitment to serving the Nigerian market efficiently and sustainably. Management indicated that petroleum product sales in Naira will promptly resume upon receiving an allocation of Naira-denominated crude cargoes from the Nigerian National Petroleum Corporation (NNPC).Dangote Refinery thanked customers for their understanding and cooperation during this period.

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