The company said the decision is necessary to avoid a mismatch between its sales proceeds and its crude oil purchase obligations, which are currently denominated in U.S. dollars.

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 […]