The Dangote Petroleum Refinery has temporarily suspended the sale of petroleum products in Naira, citing the need to align its sales revenue with crude oil purchase obligations, which are currently settled in U.S. dollars.
In a statement, the company explained that its Naira-denominated sales have exceeded the value of crude oil received in Naira, necessitating the adjustment.
Dangote Refinery assured that sales in Naira will resume once it receives an allocation of Naira-denominated crude from the Nigerian National Petroleum Company Limited (NNPCL).
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