Nigerian govt begins crude oil sales in Naira
The sale in Naira takes effect from 1 October, the Federal Ministry of Finance said.
The sale in Naira takes effect from 1 October, the Federal Ministry of Finance said.
A profound shift is occurring in the global refining sector, one which might help redefine Africa’s place in worldwide trade networks
They are importing substandard fuels and if allowed they will not stop importing such.
The NNPC Ltd assures that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100% to the general public
For this initial loading, the price from the refinery was N898 per litre
Chinedu Ukadike, said the market should be open for all in line with the willing-buyer and willing-seller commitment earlier made by the corporation.
Oil marketers in the country have confirmed that they will start lifting Premium Motor Spirit (petrol), from the refinery in few days.
As a result of this poor local patronage, the refinery exports most of its diesel and aviation fuel.
“Dangote has not briefed us nor has the committee set up by the Federal Government reverted to us on what had been agreed.
Rewane also predicted that the new price of petrol would increase the number of Nigerian citizens trapped in energy poverty to 168 million in 2025, from 161 million in 2023.