Dangote Refinery has confirmed that its President, Aliko Dangote, has agreed to the Federal Government’s proposal to conduct crude oil transactions in naira, despite the potential for financial losses.
Dangote stated, “I understand that I will incur losses, as by the time we sell the products and convert the earnings to dollars, the exchange rate may have worsened.
“He added, “However, I am willing to accept this loss for the sake of the country.
The nation is in a difficult situation, and someone must take certain risks.
I am prepared to bear the loss, no matter how significant it may be.
“This follows President Bola Tinubu’s directive to the Nigerian National Petroleum Company Limited (NNPCL) to sell crude to Dangote Refinery in the local currency.
