Dangote Petroleum has announced a temporary suspension of the sale of petroleum products in Naira, citing necessary adjustments to align with crude oil purchase obligations currently denominated in U.S. dollars.
In a statement to customers, the company explained that its sales of petroleum products in Naira have exceeded the value of the Naira-denominated crude it has received. As a result, Dangote Petroleum must adjust its sales currency to prevent a mismatch in financial transactions.
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The company also addressed false reports circulating online that suggested the suspension was due to an incident of ticketing fraud. Dangote Petroleum firmly denied these claims, stating, “This is malicious falsehood. Our systems are robust, and we have had no fraud issues.”
Despite these challenges, the company reaffirmed its commitment to serving the Nigerian market efficiently and sustainably. The company stated that it would promptly resume sales of petroleum products in Naira once it receives an allocation of Naira-denominated crude cargoes from the Nigerian National Petroleum Corporation (NNPC).
Customers have been urged to remain patient and understanding during this temporary suspension of sales. Dangote Petroleum continues to prioritize stable supply and compliance with its procurement policies.
