Oil market players said Nigerians expect transparency from the Federal Government on the Naira Crude Oil Sales Agreement with Dangote Refinery.
President of the Petroleum Products Retail Shop Owners Association (Petroan), Billy Gillis Harry, disclosed this in an interview with DAILY POST at the weekend.
According to him, Nigerians are hopeful that the agreement will eventually lead to a reduction in the pump price of premium motor spirit in the country.
His comments came after the Nigerian government announced that it had commenced crude oil-for-naira sales to Dangote Refinery from October 1, 2024.
As reported by NESPAPER PLEDGE , the Minister of Finance, Wale Edun, in a statement on Saturday, announced that the government had worked with stakeholders to commence the sale of crude oil-for-naira to Dangote Refinery.
However, Eedun did not give many details about the launch of the deal.
While Dangote Refinery has not commented on the development, Gillis-Harry called for it to be open to the implementation of the deal.
He said Nigerians are expecting the crude oil price naira to impact the pump price of petrol which ranges between 950 naira to 1,300 naira per litre across the country.
“We are looking forward to transparency and further updates on the crude oil trading naira so that Nigerians know what is going on. We are hopeful that Dangote Refinery will come to their aid,” he said.
Recall that in July 2024, President Bola Ahmed Tinubu directed the Nigerian National Petroleum Corporation to sell naira crude oil to Dangote Refinery, believing that this would bring down the price of petrol.
Earlier, the NNPCL announced that it would buy Dangote petrol for 898 naira when it withdraws from the market on September 15, 2024.
However, Dangote Refinery disagreed with the NNPCL’s position.