Dangote Refinery Temporarily Halts Naira Sales of Petroleum Products

The Dangote Petroleum Refinery has announced a temporary suspension of petroleum product sales in Naira, citing the need to align its sales currency with crude oil procurement obligations, which are currently denominated in U.S. dollars.

In an official statement, the company explained that its sales in Naira have exceeded the value of Naira-denominated crude received, making it necessary to adjust its pricing model. However, the refinery assured customers that sales in Naira would resume once it receives an allocation of Naira-based crude cargoes from NNPC.

Addressing recent speculations, Dangote Refinery dismissed online reports suggesting that loading operations were suspended due to ticketing fraud, calling such claims “false and misleading.” It emphasized that its operational systems remain secure and unaffected.

The company reiterated its commitment to supplying the Nigerian market efficiently and urged customers to remain patient during this temporary transition.