The Dangote Petroleum Refinery has dismissed rumours of ticketing fraud and reiterated its decision on a temporary halt to the sale of petroleum products in Naira.
The refinery, on statement on Thursday, described the fraud allegations as “malicious falsehood” and reassured customers of the integrity of its systems.
“Our attention has been drawn to reports on the internet claiming that we are stopping loading due to an incident of ticketing fraud. This is malicious falsehood. Our systems are robust, and we have had no fraud issues,” the management stated.
The refinery explained that the decision to suspend Naira sales was necessary to address a mismatch between its sales proceeds and its crude oil purchase obligations, which are denominated in U.S. dollars.
“To date, our sales of petroleum products in Naira have exceeded the value of Naira-denominated crude we have received. As a result, we must temporarily adjust our sales currency to align with our crude procurement currency,” the statement read.
The management emphasised that the suspension is a temporary measure and expressed its commitment to serving the Nigerian market efficiently. “As soon as we receive an allocation of Naira-denominated crude cargoes from NNPC, we will promptly resume petroleum product sales in Naira,” the statement assured.
The refinery also thanked its customers for their understanding and cooperation during the temporary suspension period. “We appreciate your understanding and cooperation during this period. Thank you,” the statement concluded.
The announcement comes amid growing concerns about the impact of currency fluctuations on Nigeria’s oil and gas sector. Dangote Petroleum Refinery, one of the largest refineries in Africa, plays a critical role in meeting the country’s petroleum product demands.
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