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Nigeria On Edge As Dangote Refinery Plans To Stop Fuel Supply—Major Shortages Expected
Dangote Refinery is set to halt the supply of petroleum products to the Nigerian market due to stalled negotiations over the naira-for-crude agreement.....KINDLY READ THE FULL STORY HERE▶
However, sources informed TheCable that the refinery will continue exporting fuel, as it currently sources all its crude oil in dollars from the international market. Previously, the refinery sold fuel to Nigerian marketers in naira, benefiting from a crude supply arrangement with the Nigerian National Petroleum Company (NNPC) Ltd., which allowed it to purchase crude in local currency. With that agreement now expired and no new terms established, domestic fuel supply will be suspended. More updates to come…
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