Dangote Petroleum Refinery has announced a temporary suspension of petroleum product sales in Naira, citing the need to realign its sales currency with crude oil procurement obligations, which are currently denominated in U.S. dollars.
In an official statement issued on March 19, 2025, the refinery management explained that the volume of petroleum products sold in Naira has surpassed the value of Naira-denominated crude received. To prevent further discrepancies and ensure operational efficiency, the company has opted to temporarily adjust its sales structure.
The statement also addressed recent reports alleging disruptions in loading activities due to fraudulent ticketing incidents. Dangote Refinery dismissed these claims as false and reaffirmed the robustness of its operational systems, stating that no fraud-related issues had occurred.
Reiterating its commitment to serving the Nigerian market, the refinery assured stakeholders that sales in Naira would resume once it secures an adequate allocation of Naira-denominated crude cargoes from the Nigerian National Petroleum Company (NNPC).
The company expressed appreciation for the understanding and cooperation of its customers during this transition period.