JUST IN: NLC urges FG to sell Crude Oil to Dangote Refinery in Naira – Reports

Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us

The Nigerian Labour Congress (NLC) has called on the Federal Government to stop importing crude oil for the Dangote Petroleum Refinery and instead prioritise selling crude oil to the facility in naira. NLC Chairman in Lagos, Funmi Sessi, made the appeal during a tour of the refinery and Dangote Fertiliser Limited.

For further information, read more details here

Sessi questioned why the Dangote Refinery, which is located in a country with abundant crude oil reserves, is still importing crude oil or paying for it in hard currency. “This country has crude oil in abundance. So why is Dangote still being made to import crude or pay for it in hard currency?” she asked.

The NLC argued that forcing the company to import crude oil or purchase it in dollars undermines the promise of lower fuel prices for ordinary Nigerians. “If the government is truly committed to reducing fuel prices and supporting local refining, it must sell crude oil to Dangote in naira,” Sessi emphasised.

The union believes that sourcing crude oil locally in naira would significantly lower operational costs and lead to a more sustainable reduction in fuel prices. The NLC lauded Dangote for achieving a fully functional world-class refinery capable of meeting domestic and regional demands for refined petroleum products.

“When government-owned refineries failed, one man stepped up. Aliko Dangote didn’t just make promises; he fulfilled them. He has proven that Nigeria can not only refine its own products but also meet international quality standards,” Sessi said.

The NLC also commended the refinery’s production of Euro 5-compliant fuel, which features significantly reduced sulphur content, aligning with international environmental standards. “This is the kind of pride we want to see – a Nigerian company producing at global standards. It’s time the government supports and maximises the capacity of this asset,” Sessi added.

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post