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    Business

    Fresh Petrol Hike Looms as Dangote Refinery Stops Sales in Naira

    EditorBy EditorMarch 19, 2025Updated:March 19, 2025No Comments2 Mins Read
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    1742401913812

    The management of Dangote Petroleum Refinery has announced a temporary suspension of the sale of petroleum products in Naira.

    The announcement was contained in a statement on Wednesday by the management of Dangote Petroleum Refinery.

    Dangote Refinery Exports Two Cargoes Of Jet Fuel To Saudi

    Ad 4

    According to the statement, the decision is necessary to avoid a “mismatch between our sales proceeds and our crude oil purchase obligations, which are currently denominated in U.S. dollars.

    “To date, our sales of petroleum products in Naira have exceeded the value of Naira-denominated crude we have received.

    Dangote Refinery Slashes Ex-Depot Petrol Price to N890

    Ad 3

    “As a result, we must temporarily adjust our sales currency to align with our crude procurement currency.

    “Our attention has also been drawn to reports on the internet claiming that we are stopping loading due to an incident of ticketing fraud. This is a malicious falsehood.

    “Our systems are robust and we have had no fraud issues.

    “We remain committed to serving the Nigerian market efficiently and sustainably.

    “As soon as we receive an allocation of Naira-denominated crude cargoes from NNPC, we will promptly resume petroleum product sales in Naira.

    “We appreciate your understanding and cooperation during this period,” the statement concluded.

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