Nigeria’s Dangote begins pricing local fuel sales in dollars, citing crude supply constraints
The naira-for-crude programme, launched in October 2024, allowed domestic refiners to purchase crude in the local currency and reduced pressure on the foreign exchange market.
Edwin Devakumar, vice president of the Dangote Group, said the refinery had been absorbing a currency mismatch by selling products in naira while sourcing crude in dollars, but limited crude supply under the naira-for-crude programme had undermined the arrangement's viability.
Nigeria's Dangote Petroleum Refinery has begun pricing fuel products for the local market in U.
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