Dangote Petroleum Refinery has announced a temporary suspension of petroleum product sales in naira citing the need to align its sales proceeds with crude oil purchases denominated in US dollars.
The refinery stated that its naira sales have exceeded the value of naira-denominated crude received, therefore, necessitating an adjustment to its sales currency.
In a statement issued on Tuesday the refinery clarified that the decision is purely financial and aimed at ensuring operational stability.
It assured customers that once it receives an allocation of naira-denominated crude cargoes from the Nigerian National Petroleum Company (NNPC) it will promptly resume sales in local currency.
The company also addressed rumors circulating online that the sales suspension was because of a fraud incident relating to ticketing.
According to the refinery, there is nothing of such.
It dismissed these reports as false and explained that its internal systems remain robust with no fraud-related concerns affecting its operations.
Dangote Refinery reaffirmed its commitment to serving the Nigerian market efficiently and sustainably.
It urged customers to remain patient as it works towards securing naira-based crude allocations to restore transactions in the local currency.
