Despite President Bola Tinubu’s directive, domestic refineries, including the Dangote Petroleum Refinery, have yet to purchase crude oil in naira.
The Crude Oil Refiners Association of Nigeria revealed that refiners have sent requests to the Nigerian National Petroleum Company Limited (NNPC) but received no response.
The Federal Executive Council approved Tinubu’s proposal to sell 450,000 barrels of crude oil meant for domestic consumption to Nigerian refineries in naira, using the Dangote refinery as a pilot.
However, nearly a week after the announcement, refiners await NNPC’s response.
The Crude Oil Refiners Association of Nigeria’s Publicity Secretary, Eche Idoko, expects the Nigerian Midstream and Downstream Petroleum Authority to initiate the process.