The Federal Executive Council (FEC) has approved the sale of crude oil in Naira to local refineries led by Dangote Refinery.
The decision was announced by the Special Adviser to the President on Information and Publicity, Mr. Bayo Onanuga after the Federal Executive Council (FEC) meeting on Monday, July 29.
According to the special adviser, the decision was taken by the FEC to ensure the stability of the pump price of refined fuel and the dollar-Naira exchange rate.
The 450,000 barrels meant for domestic consumption will be offered in Naira to Dangote refinery and other Nigerian refineries.
