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Federal Government negotiates with Dangote Refinery to reverse dollar pricing for petroleum productsRefinery’s switch to dollar sales stems from changes in crude procurement, risking foreign exchange lossesOngoing talks aim to stabilise fuel prices and restore confidence in Nigeria’s downstream petroleum market
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Federal Government has opened high-level talks with the Dangote Petroleum Refinery in a bid to reverse the refinery’s recent decision to sell petroleum products in United States dollars, a move that has contributed to rising fuel prices across Nigeria.
Sources familiar with the discussions disclosed that officials are working on a framework that could allow the refinery to resume domestic fuel sales in naira by increasing crude oil supplies under a naira-for-crude arrangement.
The federal government and Dangote Refinery reportedly begin talks to revert to fuel sales in naira. Credit: Bloomberg/ContributorSource: Facebook
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