President Bola Tinubu has directed the Nigerian National Petroleum Company Limited to sell crude to Dangote Refinery and other upcoming refineries in Naira.
The Special Adviser to the President on Information and Publicity, Bayo Onanuga, made this known today, July 29.
Onanuga stated that the move, which is to ensure the stability of the pump price of refined fuel and the dollar-Naira exchange rate, was adopted by the Federal Executive Council.
The FEC has approved that the 450,000 barrels meant for domestic consumption be offered in Naira to Nigerian refineries, using the Dangote refinery as a pilot.
The statement added, that the exchange rate will be fixed for the duration of this transaction.
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