The Crude Oil Refinery-owners Association of Nigeria (CORAN) says the Nigerian National Petroleum Company (NNPC) Limited will only sell crude oil in naira to refineries that produce petroleum motor spirit (PMS), also known as petrol.
On July 29, the federal executive council (FEC) approved a proposal by President Bola Tinubu directing the NNPC to sell crude oil to Dangote Petroleum Refinery and other refineries in naira.
The federal government said the sale of crude oil to the Dangote refinery and other refineries in naira would commence on October 1.
Idoko said the federal government had promised to only supply crude oil to the Dangote refinery as it was the “only refinery producing petrol”.
There is also Azikel Petroleum Refineries, which is also working on producing PMS...
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