There is anxiety in Nigeria’s downstream oil sector as indication emerged on Wednesday of Dangote Refinery’s plan to halt supply of petroleum products loading for the Nigerian market.
This comes as renegotiation of the naira-for-crude deal is not recording significant progress.
Meanwhile, sources familiar with the matter said the refinery will continue to load for export as it currently sources all its crude stock from the international market in dollars.
However, when Media Talk Africa contacted the spokesperson of Dangote Group, Anthony Chiejina, he said he was unaware of any plan by the 650,000-per-day refinery to stop domestic supply of fuel.
He said, “I am not aware.”
The development comes as the Nigerian National Petroleum Company Limited recently confirmed its discussion with Dangote Refinery for a fresh contract on a Naira-for-crude deal.
Recall that the federal government kicked off the Naira-for-crude deal sale with Dankgte Refinery in October last year.
With the deal, Dangote Refinery sold to Nigerian marketers in naira because it buys crude in the local currency through NNPCL.
In the past few months, the price of premium motor spirit fell to at least N860 per litre as a price war between Dangote Refinery and NNPCL kicked off.
Anxiety as Dangote Refinery moves to stop fuel supply to Nigerian Market
