Because of the stalling negotiations over the naira-for-crude agreement, Dangote Refinery is going to stop supplying petroleum products to the Nigerian market.
TheCable was informed by people with knowledge of the situation that the refinery will keep loading goods for export because it currently purchases all of its crude oil in dollars from foreign markets.
By using a crude supply agreement with the Nigerian National Petroleum Company (NNPC) Ltd., the refinery was able to buy crude in local currency and sell it to Nigerian marketers in naira.

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Since there are no new conditions in the agreement, the refinery’s supply to the domestic market will be suspended.

Stay tuned for further developments.