FG has arranged an important meeting with the Naira picky agreement at the Dangote refinery.
NewsOnline Nigeria reported that there are signs that the federal government’s original team for Naira-For-For will reconvene on Monday to consider a crude oil sale agreement with Dangote Refinery amid uncertainty on oil product prices.
Reliable information from the Department of Oil Resources and Finance, which prefers anonymity, announced this on Thursday.
This comes after Dangot refinery announced on Wednesday that it would suspend its oil product sales in Naira.
Dangote refinery’s decision to suspend sales of Naira gasoline products shows that discussions between Nigeria National Petroleum Corporation Limited and Dangote refinery are at a deadlock.
However, an official source familiar with the matter told the Daily Mail that the plan may continue.
It is confirmed that the large number of facts that NNPCL’s owned companies in the country are pre-sales to foreign creditors under their crude oil loans are facing a rough availability crisis.
“The program will not end. The challenging point is the issue of rough availability, which NNPC claims has a large amount of crude oil.
“The committee agreed to re-examine the choice of the upstream oil regulation committee in Nigeria next week (next week). The committee is working to come up with options for solutions,” the official said.
Recall that the Commission met last week at the Finance Ministry Headquarters in Abuja to assess developments and reaffirm its commitment to Naira’s critical policy framework.
The meeting was attended by the Minister of Finance and Economic Coordination Wale Edun (actually joined); Dr. Zacch Addeji, Executive Chairman of the Federal Inland Revenue Agency; Chief Financial Officer of the National Petroleum Corporation of Nigeria; Executive Commissioner (actually joined); and other stakeholders.
Billy Gillis-Harry, president of the Nigerian Petroleum Products Retail Store Owners Association, said its members would not hesitate to seek alternative sources of oil products in response to the development.
“The market is preparing for any surprises. So if there are surprises, we will have other options,” he said.
The chairman of the Nigerian Independent Petroleum Marketers Association hammered Fasola, calling on the government to intervene in the Naira-the continued policy of original sin to maintain the pace of gasoline price templates.
“I would like to suggest FG again negotiate with Dangote to keep the price of oil products at a pace,” he said.
