The company reassured customers that it will promptly resume fuel sales in Naira once it receives an allocation of Naira-denominated crude cargoes from NNPCL
Dangote Refinery temporarily suspends sales of petroleum products in Naira
Dangote Refinery has temporarily suspended the sale of petroleum products in Naira. This decision is due to the need to align its sales currency with its crude oil procurement obligations, which are currently denominated in U.S. dollars.
In a statement issued on March 19, 2025, the refinery explained that its sales of petroleum products in Naira exceeded the value of the Naira-denominated crude it received. As a result, an adjustment in the sales currency was necessary.
The company reassured customers that it will promptly resume fuel sales in Naira once it receives an allocation of Naira-denominated crude cargoes from the Nigerian National Petroleum Company (NNPC) Ltd.
The statement read; “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 we have received. 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.” Read More
