Nigeria, March 19 -- Dangote refinery on Wednesday announced the temporary suspension of sales of petroleum products in Naira.

The company, in a statement signed by its management, said the decision is necessary to avoid a mismatch between its sales proceeds and its crude oil purchase obligations, which are currently denominated in dollars.

"Dear valued customers, We wish to inform you that Dangote Petroleum Refinery has temporarily halted the sale of petroleum products in Naira. This decision is necessary to avoid a mismatch between our sales proceeds and our crude oil purchase obligations, which are currently denominated in U.S. dollars," the statement said.

The decision implies that marketers of petroleum products like petrol and di...