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Saturday, February 27, 2021

FG To Sell Crude Oil To Dangote Refinery

The Federal Government of Nigeria has disclosed plans to sell crude oil in Naira to the $15billion-worth Dangote Refinery still in construction.

It said that it was part of measures adopted to strengthen the nation’s currency and by extension its economy.

This was disclosed by the Governor of Central Bank, Godwin Emefiele, during an inspection visit to the construction site on Saturday, February 27.

“We have taken the decision to sell the crude to the Refinery in Naira because we want to impact the economy.

“We also hope that by the time the Refinery start to refine, and sell its petroleum products in Naira, the local currency will be stronger, and by extension the nation’s economy, which is still oil-driven,” He said. 

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