The naira-for-crude agreement negotiations have stagnated, and Dangote Refinery is planning to stop supplying petroleum products to the Nigerian market.
Sources close to the situation informed TheCable that since the refinery currently purchases all of its crude oil in dollars from the global market, it will keep loading goods for export.
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The refinery used to sell petroleum to Nigerian marketers in naira by using a crude supply agreement with the Nigerian National Petroleum Company (NNPC) Ltd., which enabled it to buy oil in indigenous currency.
The refinery will stop supplying the domestic market as the deal is now final and no new conditions have been agreed upon.
We’ll be updating soon.
