News

Dangote refinery must sell fuel to depots, marketers in Naira – Oshoma

Dangote refinery must sell fuel to depots, marketers in Naira – Oshoma

Liborous Oshoma, a lawyer and energy consultant, has advocated for the Dangote refinery to sell fuel to depot owners and marketers in local currency to alleviate pressure on foreign exchange.

Oshoma highlighted that with President Bola Tinubu’s directive for the Nigerian National Petroleum Company Limited to sell crude oil intended for local consumption to local refineries in naira, Dangote must adopt the same approach. This, he believes, would help reduce the price of petroleum products.

READ ALSO:

“I’m not referring to Premium Motor Spirit (PMS) at this moment; my focus is on diesel. Despite being produced locally, Dangote sells fuel to marketers in dollars, not in naira. Many marketers, except a few, have to source foreign exchange for their purchases, which has been a point of contention between Dangote and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN). Additional disagreements revolve around the costs of exporting versus selling locally,” Oshoma explained.

He suggested that the recent issues between Dangote and regulatory bodies stem from a lack of clear communication. Oshoma also noted that relying solely on the Dangote refinery is not ideal for Nigeria, as logistical challenges such as inadequate road networks and insufficient transportation infrastructure make it difficult for marketers to obtain large quantities of petroleum products.

Dangote refinery must sell fuel to depots, marketers in Naira – Oshoma

Trends Admin

Recent Posts

12-year-old Nigerian girl Eniola Shokunbi invents air filter to reduce spread of diseases in US schools

12-year-old Nigerian girl Eniola Shokunbi invents air filter to reduce spread of diseases in US…

11 hours ago

Gunmen kill two soldiers in Abia checkpoint attack

Gunmen kill two soldiers in Abia checkpoint attack Early Wednesday morning, gunmen attacked an army checkpoint…

11 hours ago

94 arrested as task force raids Lagos rail corridor squatters

94 arrested as task force raids Lagos rail corridor squatters At least 94 illegal occupants and…

11 hours ago

Two dead, buildings destroyed in American factory explosion

Two dead, buildings destroyed in American factory explosion Two employees of Givaudan sense colour, a factory…

11 hours ago

Alleged fraud: South Africa FA President, Danny Jordaan, arrested

Alleged fraud: South Africa FA President, Danny Jordaan, arrested South African Football Association (SAFA) President Danny…

12 hours ago

Okpebholo sacks all political appointees, Board executives in Edo

Okpebholo sacks all political appointees, Board executives in Edo Governor Monday Okpebholo of Edo State has swept…

12 hours ago