President Bola Tinubu is currently meeting with stakeholders in the oil industry, including Aliko Dangote, over the sale of crude oil and refined products in naira.
BusinessDay report that the meeting, which is also being attended by Wale Edun, the minister of finance and coordinating minister of the economy, is expected to brief the President on the implementation of the policy, which commenced on October 1, 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.
