Dangote Refinery Shifts to Naira Sales After Government Intervention
Dangote Refinery has reversed its decision to sell petrol in dollars following Nigerian government intervention, switching to local currency sales immediately. The refinery had initially halted naira sales due to government oil allocation issues.
The move aims to boost local supply, save foreign exchange, and potentially lower fuel prices. Experts praised the decision, emphasizing its positive impact on forex availability.
The Nigerian National Petroleum Company Limited had previously stopped the dollar sales initiative, which the government extended beyond the initial phase. The Minister of Finance confirmed the policy update, supporting the refinery's shift to naira sales.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
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