BREAKING: President Tinubu Orders Petroleum Company, NNPC To Sell Crude To Dangote Refinery In Naira
This was once launched by the Particular Adviser to the President on Info and Publicity, Bayo Onanuga on X, explaining the expose is aimed at reaching balance of the pump charge of refined gasoline and the greenback-Naira alternate charge.
President Bola Tinubu has given an govt expose to the Nigerian Nationwide Petroleum Company Tiny (NNPCL) to promote evil to Dangote Refinery and other upcoming indigenous refineries in Naira, the nation’s currency.
This was once launched by the Particular Adviser to the President on Info and Publicity, Bayo Onanuga on X, explaining the expose is aimed at reaching balance of the pump charge of refined gasoline and the greenback-Naira alternate charge.
Bayo mentioned the directive was once mentioned and adopted by the Federal Executive Council on Monday.
He mentioned, “To be sure that the steadiness of the pump charge of refined gasoline and the greenback-Naira alternate charge, the Federal Executive Council today adopted a proposal by President Tinubu to promote evil to Dangote Refinery and other upcoming refineries in Naira.
“Dangote Refinery for the time being requires 15 cargoes of evil, at a cost of $13.5 billion yearly. NNPC has committed to provide four.
“Nonetheless the FEC has authorized that the 450,000 barrels intended for home consumption be supplied in Naira to Nigerian refineries, utilizing the Dangote refinery as pilot. The alternate charge will likely be fastened in the course of this transaction.
“Afreximbank and other settlement banks in Nigeria will facilitate the synthetic between Dangote and NNPC Tiny. The sport changing intervention will salvage rid of the necessity for international letters of credit score. This can additionally attach the nation of billions of greenbacks ancient in importing refined gasoline.”
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