The Dangote Refinery’s decision to temporarily suspend the sale of refined petroleum products in naira has led to a sharp rise in depot prices, with petrol now selling for N875 per litre, up from under N850, according to Petroleum Price data.
The Dangote Group described the suspension as a temporary measure, citing a mismatch between revenue from local sales and crude oil purchase obligations, which are settled in US dollars.
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Meanwhile, the refinery dismissed online reports suggesting that loading operations had been halted due to alleged ticketing fraud, calling the claims unfounded.
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