There are concerns in Nigeria’s oil sector as Dangote Refinery may stop supplying petroleum products to the local market.
The move is linked to challenges in renegotiating the naira-for-crude deal.
Despite the situation, the refinery is expected to continue exporting fuel, as it currently sources crude oil from the international market using dollars.
However, when contacted, a Dangote Group representative stated that there was no official information about plans to halt local fuel supply.
This development follows recent discussions between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery regarding a new naira-for-crude contract.
The agreement, which began in October last year, allowed Dangote Refinery to supply fuel in Nigeria’s local currency since it received crude from NNPCL under the same terms.
In recent months, fuel prices dropped to around N860 per litre due to competition between Dangote Refinery and NNPCL.
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