According to petroleum marketers, Nigerians anticipate openness from the Federal Government over the Naira-for-crude sales agreement with Dangote Refinery.
In an interview over the weekend, Billy Gillis-Harry, the president of PETROAN (Petroleum Products Retail Outlets Owners Association), revealed this.
He claims that Nigerians anticipate that the agreement will ultimately result in a drop in the price of Premium Motor Spirit at the pump in the nation.
His remarks coincide with the announcement by the Nigerian government that the Naira-for-crude sale to Dangote Refinery will commence on October 1, 2024.
The Minister of Finance, Wale Edun in a statement on Saturday said that in consultation with stakeholders, the government had kicked off the Naira-for-crude sale to Dangote Refinery.
However, Edun provided little information on the start of the arrangement.
Gillis-Harry has demanded transparency in the deal’s execution, notwithstanding Dangote Refinery’s silence on the matter.
He claims that Nigerians anticipate seeing the effects of the Naira-for-crude agreement on the country’s gasoline pump price, which was between N950 and N1,300 per liter.
“In order to keep Nigerians informed about the Naira-for-crude transaction, we anticipate greater openness and updates. He stated, “We anticipate Dangote Refinery to provide assistance.”
Remember how President Bola Ahmed Tinubu ordered the Nigerian National Petroleum Company Limited to sell oil to Dangote Refinery in Naira in July 2024, believing that this action would lower the cost of gasoline?
Prior to this, NNPCL had said that on September 15, 2024, it lifted the product and purchased Dangote Petrol for N898.
Dangote Refinery, however, was at odds with NNPCL.
