Business
Dangote Refinery temporarily suspends sale of petroleum products in Naira
The Dangote Petroleum Refinery has announced a temporary halt in the sale of petroleum products in Naira. The decision, according to the company’s management, is aimed at addressing a currency mismatch between its sales proceeds and crude oil procurement obligations, which are currently settled in US dollars.
In a statement released on 19th March 2025, Dangote Refinery explained that its sales of petroleum products in Naira had exceeded the available supply of Naira-denominated crude. To maintain operational balance, the company stated that it was necessary to align its sales currency with that used for crude oil purchases.
Addressing recent online claims regarding alleged ticketing fraud leading to a suspension of loading activities, Dangote Refinery dismissed these reports as false. The company assured the public that its systems remain robust and have not experienced any fraudulent issues.
Despite the temporary suspension, the refinery reaffirmed its commitment to serving the Nigerian market efficiently. It assured customers that once an allocation of Naira-denominated crude from the Nigerian National Petroleum Company (NNPC) is received, sales in Naira would promptly resume.
Odigie Ehidiamen Kelvin
Nigeria charts bold path for greener, resilient buildings
Alleged Terrorism: Court adjourns Nnamdi Kanu’s trial over pending medical report
Senate urges FG to establish Military Base in Kwara
FG urges ASUU to suspend planned strike
Reps dismiss claims linking Nigeria’s security crisis to religion, seek diplomatic response to US Bill
Kano Anti-Graft Agency probes Alleged ₦4bn diversion linked to Ganduje era
8 Killed as Drone strike hits maternity ward in Sudan’s El-Fasher
INTERPOL arrests Nigerian Man in Argentina over Global Romance Scam Network
Five-Month-Old Marriage ends in tragedy as wife sets Army Doctor husband on Fire
NASU, SSANU set for nationwide protest over unmet demands Thursday
17 Super Eagles arrive camp ahead of Lesotho World Cup Qualifier
CAF reaffirms confidence in Morocco to host AFCON 2025 despite protests
UEFA clears La Liga, Serie A matches to be played outside Europe
Carnival in Aba as Tinubu commissions reconstructed Port Harcourt Road
Tinubu honours Mahmood Yakubu with CON, accepts exit as INEC Chair
Kano Anti-Graft Agency probes Alleged ₦4bn diversion linked to Ganduje era
BREAKING: Nnaji resigns as Innovation Minister over certificate forgery
Super Eagles begin training in Polokwane as Fredrick joins squad
Trump announces White House UFC event to mark 80th birthday
BREAKING: Sen. Natasha Akpoti resumes plenary session after Six-Month suspension
-
Sports1 day ago17 Super Eagles arrive camp ahead of Lesotho World Cup Qualifier
-
News1 day agoTinubu honours Mahmood Yakubu with CON, accepts exit as INEC Chair
-
Sports2 days agoCAF reaffirms confidence in Morocco to host AFCON 2025 despite protests
-
Sports2 days agoUEFA clears La Liga, Serie A matches to be played outside Europe
-
News2 days agoCarnival in Aba as Tinubu commissions reconstructed Port Harcourt Road
-
News7 hours agoKano Anti-Graft Agency probes Alleged ₦4bn diversion linked to Ganduje era
-
National News1 day agoBREAKING: Nnaji resigns as Innovation Minister over certificate forgery
-
Sports14 hours agoSuper Eagles begin training in Polokwane as Fredrick joins squad