The Dangote Petroleum Refinery and other domestic refineries in Nigeria have yet to begin purchasing crude oil in naira, as directed by President Bola Tinubu last week. The Crude Oil Refiners Association of Nigeria reports that individual refiners have written to NNPC requesting crude.
However, there has been no reaction yet. The Federal Executive Council has approved Tinubu's proposal to sell crude to the Dangote refinery and other prospective refineries in naira. Protesters criticize the deteriorating circumstances in the country as the hunger strike continues
|The FEC approved that 450,000 barrels intended for domestic use be given in naira to Nigerian refineries, with the Dangote plant serving as a pilot. The exchange rate will remain fixed for the duration of this transaction. However, over a week after the statement, the refiners claimed they had not heard from the NNPC.
Eche Idoko, Publicity Secretary of the Crude Oil Refiners Association of Nigeria, stated that the Nigerian Midstream and Downstream Petroleum Authority is scheduled to kick off the process. The search button Most widely read newspaper. Home News Sports Investigations Metro Plus offers a variety of content including videos, politics, business, health, editorials, and columns. PUNCH Lite Operators: Naira crude sale scheduled on August 7, 2024. Crude-oil Crude Oil By Dare Olawin Kindly share this story: The Dangote Petroleum Refinery and other domestic refineries have yet to begin purchasing crude oil in naira, as ordered by President Bola Tinubu. It claimed because the $20 billion facility and other local refineries in Nigeria had yet to start buying crude oil from the Nigerian National Petroleum Company Limited in naira, as Tinubu had commanded la
Comments
Post a Comment