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The Dangote Petroleum Refinery has announced a temporary suspension of petroleum product sales in Naira, citing a mismatch between its sales proceeds and crude oil purchase obligations, which are currently denominated in US dollars.
In an official statement released on March 19, 2025, the refinery explained that its sales of petroleum products in Naira have surpassed the value of Naira-denominated crude received. As a result, it has become necessary to adjust its sales currency to align with crude procurement costs.
Addressing speculation circulating online, Dangote Refinery dismissed reports suggesting that loading operations had been halted due to ticketing fraud, calling such claims malicious falsehoods. The company reaffirmed that its systems are robust and that there have been no fraud-related issues affecting operations.
Despite the temporary suspension, Dangote Refinery reassured customers that it remains committed to serving the Nigerian market efficiently and sustainably. The company stated that as soon as it receives Naira-denominated crude allocations from the Nigerian National Petroleum Company (NNPC) Ltd, it will promptly resume petroleum product sales in Naira.
Dangote Refinery concluded by thanking its customers for their understanding and cooperation during this period.
Melissa Enoch
The post Dangote Refinery Suspends Sale Of Petroleum Products In Naira appeared first on Arise News.
