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
Joint Security Operation rescues Israeli National abducted in Taraba State
ILO: 55 million people gained social protection since 2021
Pope Francis improving as Vatican eyes Sunday appearance
Akpabio threatens legal action, seeks public retraction, apology from senators Natasha, Abbo
Court issues restraining order against Pro-Wike Rally in Bayelsa
BREAKING: Supreme court sacks Julius Abure as labour Party’s National chairman
U.S. Mission backs Nigeria’s pursuit of Justice for Father Sylvester Okechukwu’s killing
FG to pay N77,000 allowance arrears to ‘ex-corps members’
Trump fires NSA Chief, Deputy in major shake-up
Veteran Bollywood Actor Manoj Kumar passes away at 87
Jose Mourinho accused Of nose grabbing Galatasaray boss Okan Buruk (Photos)
BREAKING: Edo Tribunal affirms Okpebholo’s Election, dismisses PDP’s Petition
Trump imposes 14% Tariff on Nigerian Goods as ‘Liberation Day’ Trade Policy takes effect
Uromi Killings: DSP Barau Jibrin donates N16M to families of North Hunters
Edo Election Tribunal Verdict: Ighodalo heads to Appeal Court
Nigeria unveils largest indigenous attack drones, bombs in Africa
UK confirmed as host for 2035 Women’s World Cup
Nigeria, UNIDO Partner to Boost Industrial Growth
CBN refutes introducing new N5,000, N10,000 Banknotes
JAMB releases 2025 UTME-Mock Notification Slip for printing
-
Sports1 day agoJose Mourinho accused Of nose grabbing Galatasaray boss Okan Buruk (Photos)
-
News2 days agoBREAKING: Edo Tribunal affirms Okpebholo’s Election, dismisses PDP’s Petition
-
Business2 days agoTrump imposes 14% Tariff on Nigerian Goods as ‘Liberation Day’ Trade Policy takes effect
-
News2 days agoUromi Killings: DSP Barau Jibrin donates N16M to families of North Hunters
-
News1 day agoEdo Election Tribunal Verdict: Ighodalo heads to Appeal Court
-
National News1 day agoNigeria unveils largest indigenous attack drones, bombs in Africa
-
Sports1 day agoUK confirmed as host for 2035 Women’s World Cup
-
News2 days agoNigeria, UNIDO Partner to Boost Industrial Growth