President Bola Tinubu is presently in discussions with oil industry stakeholders, including Aliko Dangote, regarding the sale of crude oil and refined products in naira. The meeting, also attended by Wale Edun, Minister of Finance and Coordinating Minister of the Economy, aims to update the President on the policy’s implementation that began on October 1 of this year.
The President also doubles as the Minister of Petroleum Resources, with oversight responsibilities for the nation’s petroleum industry.
Since the policy took off on the 1st of October, NNPC was expected to supply about 385 thousand bpd of crude oil to the Dangote Refinery to be paid for in naira
In return, the Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market to be paid for in Naira
This is as Dangote Refinery also promised to sell diesel in naira to interested off-takers.