Our Correspondent
Dangote Refinery has announced the temporary suspension of petroleum product sales in Naira to its valued customers.
The announcement was issued by the management of Dangote Refinery in a circular conveyed to customers, dated March 19, 2025.
The stated Said “We wish to inform you that Dangote Petroleum Refinery has temporarily halted the sale of petroleum products in Naira. This 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 oil we have received. As a result, we must temporarily adjust our sales currency to align with our crude procurement currency.”The management also addressed online reports claiming that sales were being halted due to an incident of ticketing fraud. They clarified:
“This is a malicious falsehood. Our systems are robust, and we have had no fraud-related issues.”
Dangote Refinery reaffirmed its commitment to serving the Nigerian market efficiently and sustainably. The company assured customers that as soon as it receives an allocation of Naira-denominated crude oil cargoes from the NNPC, petroleum product sales in Naira will promptly resume.
The circular concluded by appreciating the understanding and cooperation of its esteemed customers during this period.
