Amid naira-for-crude suspension, Dangote Refinery exports six vessels of jet fuel to the USA

• Nigeria's equilibrium of commercialized continues to get stronger arsenic the Dangote Refinery increases the export of refined petroleum products
• Available information amusement that successful March 2025, astir 2 cardinal barrels of pitchy substance had near Nigeria for the US
• Nigerians are inactive awaiting the extremity of the Dangote Refinery's dollar-denominated income of fuel

Legit.ng writer Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful concern reporting crossed integer and mainstream media.

The Dangote Petrochemical Refinery is moving connected with concern aft announcing a impermanent suspension of petrol income successful naira, and has present exported a important quantity of pitchy substance to the United States of America.

A study from the ship-tracking service, Kpler, showed that since the opening of March 2025, astir six vessels containing 1.7 cardinal barrels of pitchy substance person near the Dangote Refinery and arrived astatine ports successful the USA.

The information further shows that by March 29, the Everglades terminal volition person the Hafnia Andromeda, a vas carrying astir 348,000 barrels of pitchy fuel.

The Dangote radical has already been acknowledged arsenic Nigeria's largest non-oil exporter, and its caller export of petroleum products further cements the position. Photo credit: Dangote Group
Source: UGC

These imports are acceptable to propulsion US pitchy substance imports to a two-year high.

Room for Dangote Refinery to proviso much pitchy fuel

The Dangote Refinery mightiness spot much opportunities to merchantability its pitchy substance to the US market, arsenic the shutdown of Phillips 66 Bayway refinery successful New Jersey implicit attraction opens up a vacuum to beryllium filled with imports.

ChannelsTV News reports that the charts besides amusement a caller precocious successful pitchy substance imports to the US by root country.

This is besides starring to accrued request to lease retention tanks, but determination is small certainty astir however agelong this volition last.

FG halts naira-for-crude income

The national authorities had precocious announced an extremity to the naira-for-crude deal, which it said was lone scheduled to past six months successful its aviator phase.

There are assumptions that the national authorities is present going to merchantability crude lipid to the home refineries successful dollars, arsenic the national authorities seeks to make much-needed FX and boost its overseas speech reserves.

This has raised concerns and controversies astir the availability of crude lipid for the Dangote Refinery to transportation retired its operations, and proviso petroleum products to the Nigerian marketplace and different countries.

Since the suspension of naira sales, pump terms of petroleum products person accrued slightly. Photo credit: Bloomberg/Contributor
Source: Getty Images

It has besides placed the naira nether a batch of unit successful the overseas speech market, arsenic some section marketers and importers are present scrambling for dollars to acquisition petroleum products.

Economic experts accidental that successful the agelong term, this determination spells doom for the naira.

Dangote Refinery stops naira merchantability of petroleum products

In related news, Dangote Petrochemical refinery halted the merchantability of its refined petroleum products successful naira.

According to the authoritative connection connected its X handle, this determination positioned the institution to beryllium amended equipped to conscionable its crude outgo obligations successful dollars, arsenic the national authorities had suspended the naira-for-crude deal.

The institution noted that its products would present beryllium sold successful dollars, but promised to instrumentality to naira income arsenic soon arsenic the NNPC resumed selling crude successful naira.

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng