Dangote Petroleum Refinery has announced a temporary suspension of petroleum product sales in Naira.
This decision was made to ensure alignment between sales revenue and crude oil purchase obligations, which are currently denominated in U.S. dollars.
The refinery explained that so far, its sales in Naira have exceeded the value of Naira-denominated crude oil received. To address this imbalance, the company will temporarily adjust its sales currency to match its crude procurement requirements.
Additionally, Dangote Refinery dismissed online reports suggesting that it had halted loading due to ticketing fraud, calling such claims “malicious falsehood.” The company assured customers that its systems are robust and that no fraud-related incidents have occurred.
The refinery reaffirmed its commitment to efficiently serving the Nigerian market. It assured customers that once it receives an allocation of Naira-denominated crude cargoes from the Nigerian National Petroleum Company (NNPC), sales in Naira will resume immediately.
Dangote Petroleum Refinery appreciates customers’ understanding and cooperation during this period.
