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.