₦airaland Forum

TEMPORARY SUSPENSION OF SALES OF PETROLEUM PRODUCTS IN NAIRA

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.

Our attention has also been drawn to reports on the internet claiming that we are stopping loading due to an incident of ticketing fraud. This is 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.

We appreciate your understanding and cooperation during this period.
Thank you.

Management
19th March, 2025

treesun:
Nlfpmod, is fuel going to go up again, let them pity us!

oluwaseyi0:
You want to buy crude in naira but don't want to sell pms in naira

oluwaseyi0:
You want to buy crude in naira but don't want to sell pms in naira

Obviously you did not read the article

Importers of fuel are fighting Dangote because his fuel is cheaper and they are making loss.

The only way to hit Dangote is to stop the crude for naira deal with Dangote refinery so that his cost of production will go up, thereby increasing Dangote fuel price so that importers too will make money when they import fuel because price difference with Dangote refinery will not be much.

This is corrupt importers at NNPCL fighting back

oluwaseyi0:
You want to buy crude in naira but don't want to sell pms in naira