Di Federal Government don talk say di naira-for-crude arrangement wey dem get with local refineries no be temporary plan but na important government policy wey go support better refining for inside Nigeria.
Di Minister of Finance, Wale Edun, yarn this one for one meeting with Dangote Refinery people on Tuesday. E say di policy still dey active and go continue straightaway, even though di former NNPCL boss, Mele Kyari, bin try stop am.
Back for July 2024, di Federal Executive Council (FEC) don direct say NNPCL go dey sell crude oil give Dangote Refinery and other local refineries in naira instead of US dollars. Dem do am to reduce pressure on dollar and make fuel price stable.
But by March 2025, NNPCL talk say di agreement to sell crude in naira na just six months, and e go end by March. As e be like that, Dangote Refinery stop to sell fuel in naira. Dem talk say dem no dey get crude in naira again, so dem no fit continue to dey sell fuel in naira while dem dey buy crude in dollars.
This wahala make petrol price jump from about ₦860 to ₦1,000 per litre. But Dangote Refinery promise say once dem begin receive crude in naira again, dem go resume fuel sale for naira.
Few days later, President Bola Tinubu remove Mele Kyari and the whole NNPCL board. He appoint new people, with Bashir Ojulari as di new GCEO and Ahmadu Kida as chairman.
Experts believe say once di naira-for-crude plan resume, e go help reduce pressure on dollar, make petrol price stable, and bring small relief to Nigerians wey dey suffer from di high fuel price.
