BREAKING: FG Agrees To Sell Oil In Naira To Dangote Refinery

• The Federal Government (FG) has concluded plans to sell crude oil to the $15 billion Dangote Refinery in Naira.
• According to the government, the latest move is part of measures adopted to strengthen the currency and by extension the nation’s economy.

The Federal Government (FG) has concluded plans to sell crude oil to the $15 billion Dangote Refinery in Naira.

This was disclosed by the governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, during his visit to the refinery on Saturday.

According to him, the latest move is part of measures adopted to strengthen the currency and by extension the nation’s economy.

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“We have taken the decision to sell the crude to the Refinery in Naira because we want to impact the economy.

“We also hope that by the time the Refinery start to refine, and sell its petroleum products in Naira, the local currency will be stronger, and by extension the nation’s economy, which is still oil-driven,” Emefiele said.

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