Dangote Refinery is halting the sale of petroleum products in naira within the Nigerian market, Punch Newspaper reported, citing failings in a landmark 2024 plan for the state-owned energy company to supply crude in local currency.
The refinery issued a new pricing template on Monday that quoted prices in dollars, the newspaper said, citing unnamed company sources.
The sources explained Dangote Petroleum Refinery & Petrochemicals FZE receives fewer naira-denominated cargoes than ones priced in dollars, exposing it to currency risks.
Under the new pricing template, gantry prices of gasoline will now be $0.779 per liter, diesel $1.087 per liter, aviation fuel $0.942 per liter, and coastal supplies of gasoline at $1,044.62 per metric ton, according to the newspaper.
A spokesman of the Dangote Group confirmed that the newspaper’s reporting was accurate. A government spokesman did not immediately respond to a request for comment.
Moving to dollar prices backtracks on the
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