Africa’s Richest Man, Aliko Dangote has won his battle with the Nigerian National Petroleum Company, NNPC, as the Federal Executive Council (FEC) has directed the NNPC to henceforth sell crude oil to Dangote Refinery and other local refineries only in naira.
Addressing Newsmen after a FEC meeting chaired by President Bola Tinubu in Abuja on Monday, the Head Federal Inland Revenue Service (FIRS) boss Zack Adedeji explained that the measure would reduce the strain on the country’s foreign spending and stabilize the pump price of petrol, diesel and other products in Nigeria.
According to him, the NNPCL has also been ordered to immediately begin the full implementation of the directive to boost local production of refined petroleum products in Nigeria, adding that the sale of refined products from Dangote Refinery to oil marketers and distributors must only be denominated in naira.
Recall, Aliko Dangote, owner of Dangote Refinery, had accused the authorities of NNPC and International Oil Companies of frustrating crude supply to his $20bn facility sited at the Lekki Free Trade Zone near Lagos.
Aliko had recently come out smoking with revealing secrets concerning NNPC after one of its Managers questioned the quality of petroleum products produced at the Dangote Refinery.
The reaction of foremost Industrialist whose investment was really threatened by this unpatriotic allegation saw the intervention of the National Assembly and later the presidency.
