• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
Home Economy Finally, Tinubu Orders NNPC to Sell Crude Oil to Dangote Refinery in...
  • Economy
  • National

Finally, Tinubu Orders NNPC to Sell Crude Oil to Dangote Refinery in Naira – Tinubu Orders NNPCL

By
Prnigeria
-
July 29, 2024
President Bola Ahmed Tinubu
President Bola Ahmed Tinubu

Sell Crude Oil to Dangote Refinery in Naira – Tinubu Orders NNPCL

President Bola Tinubu has directed the Nigerian National Petroleum Company Limited to sell crude to Dangote Refinery and other upcoming refineries in Naira.

The Special Adviser to the President on Information and Publicity, Bayo Onanuga, made this known in a post via his official X handle on Monday.

Onanuga stated that the move, which is to ensure the stability of the pump price of refined fuel and the dollar-Naira exchange rate, was adopted by the Federal Executive Council today.

Read Also:

  • Dismissed Officer Impersonating Agency, Defrauding Public — DSS Alerts Nigerians
  • Armed Forces, Security Agencies to Hold Route March in Abuja — DHQ
  • FG Orders Tertiary Institutions to Account for Unused TETFund Allocations Within 30 Days

It was gathered that Dangote Refinery, at the moment, requires 15 cargoes of crude, at a cost of $13.5 billion yearly. NNPC has committed to supply four.

However, 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 a pilot.

The statement added, “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 letters of credit, further saving the country of dollar payments.”

 

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Crude Oil
  • Dangote Refinery
  • NNPCL
  • Tinubu
Previous article8 Killed as Military Troops Raid Terrorists’ Hideout in Borno 
Next articleMonopolistic Oligarchies: The Tale of Dangote of Nigeria and Ambani of India
Prnigeria
Prnigeria

RELATED ARTICLESMORE FROM AUTHOR

Department of State Security Service DSS

Dismissed Officer Impersonating Agency, Defrauding Public — DSS Alerts Nigerians

The Minister of Education, Dr. Tunji Alausa

FG Orders Tertiary Institutions to Account for Unused TETFund Allocations Within 30 Days

Professor Joash Ojo Amupitan

Tinubu Nominates Prof. Amupitan, a Northern Yoruba Scholar, as New INEC Chairman

ICPC Secures 24-Year Jail Term for Retired FCTA Director Over N318 Million Fraud

Governor Umar Dikko Radda and Chief of Army Staff, Lieutenant-General Olufemi Oluyede, at Army Headquarters, Abuja.

Gov Radda Hails Troops’ Gallantry, Seeks for New Army Unit in Katsina

Ex-Gov Yahaya Bello’ s Fund Withdrawals Did Not Breach Banking Regulations, EFCC Witness Tells FCT Court

Atiku Abubakar

Atiku Criticises DSS, Demands Probe of Tinubu Cabinet Following Minister’s Resignation

Tinubu: Shuttle Diplomacy and the Power of Showing Up

Minister of Innovation, Science and Technology, Uche Nnaji

Finally, Tinubu’s Embattled Minister Resigns Amid Certificate Scandal

INEC boss Mahmood Yakubu

Tinubu Confers National Honour on Outgoing INEC Chairman Mahmood Yakubu

Nigerian Air Force new Headquarters

Badaru Hails NAF’s Vision, Commissions New Headquarters Annex in Abuja

Former INEC Boss hands over Leadership to Miss May Agbamuche-Mbu

JUST IN: INEC Boss Prof. Yakubu Hands Over Leadership to Acting Chair

Recent Posts

  • Dismissed Officer Impersonating Agency, Defrauding Public — DSS Alerts Nigerians
  • Armed Forces, Security Agencies to Hold Route March in Abuja — DHQ
  • FG Orders Tertiary Institutions to Account for Unused TETFund Allocations Within 30 Days
  • Tinubu Nominates Prof. Amupitan, a Northern Yoruba Scholar, as New INEC Chairman
  • Police Nab 12 Suspects Over Killing of Arise TV Anchor in Abuja Robbery
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Dismissed Officer Impersonating Agency, Defrauding Public — DSS Alerts NigeriansArmed Forces, Security Agencies to Hold Route March in Abuja — DHQFG Orders Tertiary Institutions to Account for Unused TETFund Allocations Within 30 DaysTinubu Nominates Prof. Amupitan, a Northern Yoruba Scholar, as New INEC ChairmanPolice Nab 12 Suspects Over Killing of Arise TV Anchor in Abuja RobberyMACBAN Slams Plateau Insecurity Report, Alleges Exclusion of Fulani VictimsICPC Secures 24-Year Jail Term for Retired FCTA Director Over N318 Million FraudCG Audi Harps on NSCDC’s Commitment to Grassroots Security, Intelligence Drive in AnambraUNILAG to Honor Bayelsa Governor Douye Diri, Launches Professorial Chair on Good GovernanceAfrica Radio International Names Pioneer Management Team to Lead Pan-African Media DriveFCT Police Nab Killers of Arise TV Staff in AbujaThe Silence Over the Lagos Five: A National Tragedy Ignored By Hawwah A. GamboNAF Integrates Civilian Harm Mitigation, Gender Mainstreaming into Air OperationsMilitary Floods Kwara Forests with Troops, Equipment to Crush KidnappersGov Radda Hails Troops’ Gallantry, Seeks for New Army Unit in Katsina
X whatsapp