EKO HOT BLOG report oil marketers have debunked speculations about Dangote Petroleum Refinery selling refined petroleum products in dollars, confirming that transactions will be in naira.
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The registration process for marketers at the refinery is ongoing, with officials meeting to finalize pricing templates for the products.
Dangote Group’s President, Aliko Dangote, previously announced the commencement of diesel and aviation fuel production, emphasizing the refinery’s significance for Nigeria.
The facility, a 650,000 barrels per day crude oil refinery, will supply fuel to about 150,000 retail outlets operated by IPMAN.
IPMAN’s National Public Relations Officer clarified that while crude is bought in dollars, refined products will be sold in naira within Nigeria.
He mentioned that Dangote’s other businesses operate in naira, and the refinery is likely to follow suit unless dealing with offshore sales.
The pricing template for refined products has not been released, and discussions are ongoing with regulators to determine prices based on market feasibility.
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The refinery, a game-changer for Nigeria, has received six million barrels of crude oil, covering an area of 2,635 hectares in the Lekki Free Trade Zone.
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