By Udeme Akpan
THE Federal Government has concluded plans to sell crude oil to the $15 billion Dangote Refinery in Naira.
This is part of measures adopted to strengthen the currency and by extension the nation’s economy.
The governor, Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, who visited, Saturday, to inspect the ongoing construction of the Dangote Refinery, Petrochemicals Complex Fertiliser Plant, and Subsea Gas Pipeline project at Ibeju Lekki, Lagos, said: “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.”
According to him, this is expected to help Nigeria save about 41% of its foreign exchange that is being expended on the importation of refined petroleum products.
Emefiele, who noted that the…
Source: Vanguard Newspaper
