$15bn Dangote Refinery to buy oil from FG in Naira

0
42

 

Plans have been concluded by the Federal Government to sell crude oil to Dangote Refinery in Naira.

According to reports, this is part of measures adopted to strengthen the currency and, by extension, the nation’s economy.

This information was made by the governor, Central Bank of Nigeria, CBN, Mr Godwin Emefiele, during his visit to the refinery on Saturday, to inspect the ongoing construction.

Emefiele 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.”

Dangote Refinery is an oil refinery owned by the Dangote Group that is under construction in Lekki, Nigeria. When completed, it will have the capacity to process about 650,000bpd of crude oil, making it the largest single-train refinery in the world.

LEAVE A REPLY

Please enter your comment!
Please enter your name here