The Federal Government has approved petroleum marketers to lift petrol directly from the Dangote refinery, bypassing the Nigerian National Petroleum Company Limited (NNPC).
This decision confirms speculation that the NNPC will no longer be the exclusive off-taker of Dangote fuel.
In a statement released on Friday, Wale Edun, the Minister of Finance and Chairman of the Naira-crude sale implementation committee, provided an update on the initiation of crude purchases and product sales conducted in naira transactions.
The Implementation Committee, chaired by Edun, held its second post-commencement review meeting on October 10 to assess the progress of the Crude Oil and Refined Products Sales in naira initiative.
“The committee is pleased to report a successful transition of operations in line with the directive issued by the Federal Executive Council. This directive has established a robust framework for local production and distribution of crude oil and refined products for local consumption in naira. the statement said.
Edun expressed confidence that these measures will ultimately create better market conditions for the benefit of all Nigerians in the long term.
CREDIT: Allneeds, PUNCH
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