According to the information send out the press, received by TheForesight online media Platform organization’s representative from the Dangote ‘s management through mail by Mr Head of Media, Sunday Esan disclosed that the decision is important so as to regularize their sales proceeds and their crude oil sales routten presently calculated in U.S. dollars.
The message reads in parts: “This decision is necessary to avoiding a mismatch between our sales proceeds and our crude oil purchase obligations, which are currently denominated in U.S. dollars”
To date, their sales of petroleum products in Naira have exceeded the value of Naira-denominated crude they have received.
As a result, they must temporarily adjust their sales currency to be in tandem with their crude procurement currency.
In addition; 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 a malicious falsehood. Dangote systems are robust and we have had no fraud issue!.
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.