Just In: Fuel Crisis Looms As Dangote Refinery Set To Stop Supplying Nigerian Market

Dangote Refinery is set to suspend the supply of petroleum products to the Nigerian market following stalled negotiations over the naira-for-crude agreement.

However, sources familiar with the matter told TheCable that the refinery will continue loading products for export, as it currently procures all its crude oil in dollars from the international market.

Previously, the refinery sold fuel to Nigerian marketers in naira, leveraging a crude supply deal with the Nigerian National Petroleum Company (NNPC) Ltd., which allowed it to purchase crude in local currency.

With the agreement now concluded and no new terms in place, the refinery’s supply to the domestic market will be put on hold.

More updates to follow…