Officially, the Dangote refinery has declared that it will no longer be supplying petroleum products in naira.
The refinery claimed in a statement released by the Dangote Group on Wednesday that the stoppage is only temporary. This came after rumours circulated that the Nigerian National Petroleum Company (NNPC) Limited may have halted the Dangote refinery’s purchase of oil in naira.
According to the company’s statement available to BrandSpur national news brand: “Dear valued customers, 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,” it added.
Additionally, it refuted internet claims that a ticketing fraud issue was the reason it was not loading.
The statement partly reveals: “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,” it added.
