Dangote Petroleum Refinery Limited has separated the dollar policy of the company from the rising price of petrol in the country. The company said it has not received any dollar payments for fuel yet, despite reports of a price increase at some depots.

The price hike has sparked fresh controversy in the downstream sector, with marketers linking it to Dangote’s dollar-based sales plan.

The refinery introduced a new sales framework that allows for dollar-denominated payments. However, a senior official said no marketer has completed a dollar transaction under the new policy.
The official also clarified that the petrol currently selling for almost N50 more per litre at some depots was bought and stocked before the new framework took effect.

The refinery is, however, insisting that the policy is not responsible for the increases.