Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Prosecutor Wants Nnamdi Kanu To Open Defence in Terrorism Charge

    July 18, 2025

    White House Says Trump Diagnosed With Chronic Venous Insufficiency

    July 18, 2025

    Tinubu Renames University Of Maiduguri After Buhari

    July 17, 2025
    Facebook X (Twitter) Instagram
    Trending
    • Prosecutor Wants Nnamdi Kanu To Open Defence in Terrorism Charge
    • White House Says Trump Diagnosed With Chronic Venous Insufficiency
    • Tinubu Renames University Of Maiduguri After Buhari
    • Dele Momodu Resigns From PDP, Joins APC
    • Otudeko Exits FirstHoldco, Sells 25 Percent Majority Stake
    • Atiku’s Departure Won’t Leave Any Dent On PDP – Makinde
    • Atiku Resigns From PDP, Says Party Deviated From Founding Principles
    • Court Frees From Fayose From N2.2bn Money Laundering Case By EFCC
    Facebook X (Twitter) Instagram
    TheScrutinyNG
    Subscribe
    Friday, July 18
    • Home
    • Politics
    • Business
    • News
      • World News
    • Sports
    • Interviews
    • Opinion
    • Entertainment
    • Columnists
    • ABOUT US
    TheScrutinyNG
    Home » Rise In Fuel Price Imminent As Dangote Stops Sale Of Petrol In Naira
    2 Mins ReadMarch 20, 2025

    Rise In Fuel Price Imminent As Dangote Stops Sale Of Petrol In Naira

    By Amina MohammedMarch 20, 2025No Comments2 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Petroleum products marketers have predicted a likely rise in the price of petroleum products as Dangote Refinery halts the sale of petrol in naira.

    The marketers, while expressing shock over the development, said there are genuine concerns over supply chain disruptions and impending price hikes.

    Stakeholders fear the ripple effects may deepen economic pressures on businesses and consumers nationwide.

    Dangote Refinery, in a statement, said the move was necessary to avoid a mismatch between its sales proceeds and our crude oil purchase obligations, which are currently denominated in US 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.

    “Our attention has also 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.

    “We remain committed to serving the Nigerian market efficiently and sustainably. As soon as we receive an allocation of naira-denominated crude cargoes from NNPC, we will promptly resume petroleum product sales in naira. We appreciate your understanding and cooperation during this period”, the company explained.

    Commenting on the development, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Mr. Billy Gillis-Harry, expressed rude shock at the development, saying the decision by Dangote will impact petroleum products  availability, energy security and pricing.

    He said the coming onboard of the Dangote Refinery has been able to stabilise the supply chain while guaranteeing access to product.

    However, he warned the suspension of petroleum products into the sldomestic market by Dangote should not be an excuse for importers of products to profiteer by putting the country in a disadvantage condition.

    Author

    • Amina Mohammed
      Amina Mohammed

      View all posts
    Dangote Refinery
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Amina Mohammed

    Related Posts

    Featured

    White House Says Trump Diagnosed With Chronic Venous Insufficiency

    July 18, 2025
    Breaking News

    Tinubu Renames University Of Maiduguri After Buhari

    July 17, 2025
    Breaking News

    Atiku Resigns From PDP, Says Party Deviated From Founding Principles

    July 16, 2025
    Breaking News

    Buhari Buried In Daura At 5:50pm Nigerian Time

    July 15, 2025
    Breaking News

    Buhari’s Body Taken To Daura For Burial

    July 15, 2025
    Breaking News

    Shettima Departs London With Buhari’s Body To Nigeria For Burial

    July 15, 2025

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    Editor's Picks

    Prosecutor Wants Nnamdi Kanu To Open Defence in Terrorism Charge

    July 18, 2025

    White House Says Trump Diagnosed With Chronic Venous Insufficiency

    July 18, 2025

    Tinubu Renames University Of Maiduguri After Buhari

    July 17, 2025

    Dele Momodu Resigns From PDP, Joins APC

    July 17, 2025
    Latest Posts
    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • US Politics
    • EU Politics
    • Business
    • Opinions
    • Connections
    • Science

    Company

    • Information
    • Advertising
    • Classified Ads
    • Contact Info
    • Do Not Sell Data
    • GDPR Policy
    • Media Kits

    Services

    • Subscriptions
    • Customer Support
    • Bulk Packages
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Âİ 2025 The Scrutiny. Designed by Design Streams.

    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.