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The Federal Government reached an agreement with Dangote Refinery on Friday to supply dollars in exchange for naira from petrol salesA Dangote management official said the refinery had previously halted naira fuel sales after failing to receive dollars from the CBNThe Dangote Refinery spent about $4.48bn importing 40.40 million barrels of crude oil between May and June 2026
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Federal Government has agreed to provide foreign exchange to the Dangote Petroleum Refinery in exchange for naira generated from petrol sales, a company official told journalists, marking a fresh attempt to salvage the troubled naira-for-crude arrangement.
A management official at the refinery, who spoke on condition of anonymity given the sensitivity of the matter, said the agreement was reached on Friday, July 31, 2026.
Dangote Refinery hits dollar crunch as FG proposes new measure to
