ACF applauds Tinubu for ordering sale of crude oil in naira to Dangote refinery
The Arewa Consultative Forum (ACF) has lauded President Bola Tinubu’s policy directive that crude oil should be sold to Dangote Petroleum Refinery and any other local refiners in naira.
Its Chairman, Dr. Faruk Umar, noted that the President’s directive would encourage local investments and development of Nigeria’s latent economic potential.
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He said the decision shows that President Tinubu has the best interest of the nation at heart.
According to him, given his pragmatic and inclusive approach as well as tendency to give a listening ear to people, the President will succeed in governing the country well, if he continues in this trajectory.
“What the President has done will encourage the likes of Alhaji Aliko Dangote and other foreign investors to invest in the country. We also commend Alhaji Aliko Dangote for believing in the Nigerian economy to invest $20 billion single handedly, being the largest investment by an individual in any part of Africa.
“With this development, we are appealing to Alhaji Aliko Dangote to rescind his decision of abandoning his investment in the steel industry as this will make Nigeria self-sufficient in its industrial development.
“Alhaji Aliko Dangote should also reciprocate the gesture by ensuring that over time, the price of petroleum products become more affordable. We commend his kind gesture in drastically reducing the prices of diesel and aviation jet fuel,” Umar said.
The ACF chairman, who is also President of Association for the Advancement of Rights of Nigerian Shareholders (AARNS), said it was a delight that Dangote would be listing the refinery on the Nigerian Exchange (NGX), where every Nigerian can own shares in the company.
President Tinubu directed the Nigerian National Petroleum Company Limited (NNPCL) to sell crude to Dangote Refinery and other upcoming refineries in naira.
The Special Adviser to the President on Information and Publicity, Bayo Onanuga, announced this in a post via his official X handle yesterday.
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