The Nigerian government has declared that the Nigerian National Petroleum Company Limited will begin supplying crude in Naira to the Dangote Refinery on Tuesday, October 2024, to cut the cost of Premium Motor Spirit (Petrol), Cyber Reporters report.
Dare Adekanmbi, spokesperson for the Chairman of the Technical Sub-Committee on Domestic Sales of Crude Oil in Local Currency, Zacch Adedeji, and the Chairman of the Federal Inland Revenue Service, acknowledged this in a statement released on Sunday.
He said, “I can confirm to you that the Chairman, Sub-Technical Committee, Zacch Adedeji, is working day and night to ensure that things go according to plans. He knows how important it is to have the agreement implemented as has been planned for the benefit of Nigerians.”
This comes as the committee, on September 13, 2024, announced that the Federal Executive Council under the leadership of President Bola Tinubu approved the sale of crude to local refineries in naira and the corresponding purchase of petroleum products in naira to begin from October 1, 2024.
Petroleum Marketers have indicated that when crude oil is sold to Dangote Refinery and other Naira refineries, the price of petrol will fall.
The state-owned oil company claimed that it purchased Dangote Refinery petrol at N898 per litre, but the refinery, worth $20 billion, disagreed.
Dangote Refinery had encouraged Nigerians to wait for the Adedeji-led committee to divulge the pricing of its product until crude sales began in the Naira agreement.
Aliko Dangote, President of the Dangote Group, recently claimed that his gasoline was less expensive than foreign gasoline, however, he did not specify the price.
However, members of the House of Representatives had mandated Dangote Refinery to reveal the price of its Petrol but up to date, that information has remained private
