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Nigeria On Edge As Dangote Refinery Plans To Stop Fuel Supply—Major Shortages Expected

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1 year ago

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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.

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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.

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With that agreement now expired and no new terms established, domestic fuel supply will be suspended.

More updates to come…

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