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Nairaland Forum / Nairaland / General / Politics / President Tinubu Offers Lifeline To Dangote Refinery,Sell Crude To It in Naira (281 Views)
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President Tinubu Offers Lifeline To Dangote Refinery,Sell Crude To It in Naira by blamingthedevil: 3:58pm On Jul 29 |
Breaking: President Tinubu offers lifeline to Dangote Refinery, NNPC to sell crude to it in Naira To ensure the stability of the pump price of refined fuel and the dollar-Naira exchange rate, the Federal Executive Council today adopted a proposal by President Tinubu to sell crude to Dangote Refinery and other upcoming refineries in Naira. Dangote Refinery at the moment requires 15 cargoes of crude, at a cost of $13.5 billion yearly. NNPC has committed to supply four. But the FEC has approved that the 450,000 barrels meant for domestic consumption be offered in Naira to Nigerian refineries, using the Dangote refinery as pilot. The exchange rate will be fixed for the duration of this transaction. Afreximbank and other settlement banks in Nigeria will facilitate the trade between Dangote and NNPC Limited. The game changing intervention will eliminate the need for international letter of credit, further saving the country of dollar payments |
Re: President Tinubu Offers Lifeline To Dangote Refinery,Sell Crude To It in Naira by blamingthedevil: 3:58pm On Jul 29 |
Thank you President Tinubu The best President in the history of Nigeria 3 Likes |
Re: President Tinubu Offers Lifeline To Dangote Refinery,Sell Crude To It in Naira by Faiththatworks(m): 3:59pm On Jul 29 |
Hi |
Re: President Tinubu Offers Lifeline To Dangote Refinery,Sell Crude To It in Naira by juvewalex(m): 4:03pm On Jul 29 |
Great news if true. Maybe we may take some some sigh of relief. 1 Like |
Re: President Tinubu Offers Lifeline To Dangote Refinery,Sell Crude To It in Naira by Chinkoalhaji34: 4:05pm On Jul 29 |
Na wa o! This is a smart move by Tinubu. Supporting Dangote Refinery with Naira sales is a win-win for our economy. We dey shine small small! 6 Likes |
Re: President Tinubu Offers Lifeline To Dangote Refinery,Sell Crude To It in Naira by mrvitalis(m): 4:10pm On Jul 29 |
blamingthedevil: Crude supply is never the issue The issue is this 1) there is no way dangote can sell petrol below ₦1100 2) Oil marketers can't buy because NNPC sales at a loss of ₦600+ to keep petrol at ₦700 3) NNPC already have people in Malta and other places with which they manipulate volume imported and they know buying from dangote they don't have that luxury The solution return subsidy to the way it is before so that dangote can sale for ₦580 at his depot and apply for subsidy for the balance Or Remove subsidy completely so tht petrol can be ₦1450 per litres and let dangote compete with imported fuel hands free 1 Like |
Re: President Tinubu Offers Lifeline To Dangote Refinery,Sell Crude To It in Naira by iwaeda: 4:12pm On Jul 29 |
blamingthedevil: This government doesn't understand what they are doing. No policy can be sustained. I hope Dangote will be OK now.Lets wait till August |
Re: President Tinubu Offers Lifeline To Dangote Refinery,Sell Crude To It in Naira by blamingthedevil: 4:13pm On Jul 29 |
mrvitalis: "But the FEC has approved that the 450,000 barrels meant for domestic consumption be offered in Naira to Nigerian refineries, using the Dangote refinery as pilot. The exchange rate will be fixed for the duration of this transaction" Read before you write 4 Likes |
Re: President Tinubu Offers Lifeline To Dangote Refinery,Sell Crude To It in Naira by Philipponzaghi: 4:33pm On Jul 29 |
Obidients will still find a way to complain. This is a solid move for Nigeria's economy, yet they’ll just be there wailing. Tinubu is showing real leadership and supporting our local businesses. Meanwhile, the wailers will continue to wail. 3 Likes |
Re: President Tinubu Offers Lifeline To Dangote Refinery,Sell Crude To It in Naira by mrvitalis(m): 5:03pm On Jul 29 |
blamingthedevil:What has that have to the with the issue with dangote Supply has never been the issue cant u read? |
Re: President Tinubu Offers Lifeline To Dangote Refinery,Sell Crude To It in Naira by yarimo(m): 5:04pm On Jul 29 |
This is very commendable from the most loved president of Nigeria 3 Likes |
Re: President Tinubu Offers Lifeline To Dangote Refinery,Sell Crude To It in Naira by Mynd44: 6:05pm On Jul 29 |
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