The Federal Executive Council (FEC), presided over by President Bola Ahmed Tinubu, on Monday, approved the sale of Crude oil to Dangote Refinery and other local refineries using the country’s currency (Naira) instead of Dollars.
This was disclosed to State House Reporters by the Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji.
Dangote Refinery, through the Group Chief Commercial Officer, Dangote Industries Limited, Rabiu A. Umar, alleged that the nation’s oil company supplied insufficient crude to the 650,000-per-barrel refinery in Ibeju Lekki, Lagos State. According to him, the NNPCL supplied only 33 per cent to the refinery, describing it as not enough.
Recall that the President of Dangote Group, Aliko Dangote, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), alongside NNPCL, had been recently locked in a dispute, ranging from monopoly allegations to supply of crude for the refinery, substandard fuel imports and ownership of blending plants in Malta.