The Dangote Petroleum Refinery has announced a temporary halt to the sale of petroleum products in Naira, citing the need to align its sales proceeds with its crude oil procurement obligations, which are currently in U.S. dollars.
According to a statement from the company, its Naira-denominated sales have exceeded the value of crude oil received in Naira, necessitating the shift to foreign currency transactions.
The refinery emphasized that this measure is temporary and will be reversed once it secures an allocation of Naira-based crude cargoes from the Nigerian National Petroleum Company (NNPC).
Dangote Refinery also dismissed online rumours suggesting that the suspension was due to fraudulent ticketing activities, calling such claims “malicious falsehoods.”
The company assured stakeholders that its systems remain robust and free from fraud-related issues.
Despite the temporary adjustment, the refinery reiterated its commitment to efficiently serving the Nigerian market and urged customers for their understanding and cooperation during this period.
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