Dangote Refinery and other local refineries are yet to purchase crude oil in Naira after President Bola Ahmed Tinubu’s directive last week.
Eche Idoko, the Publicity Secretary of the Crude Oil Refiners Association of Nigeria, disclosed this in a statement on Tuesday.
According to him, the Nigerian Midstream and Downstream Petroleum Authority is expected to kickstart the process.
“We have not started buying crude from NNPC. Individual members have written to them (NNPC) already, and they have several requests from these refineries before them.
“Typically, we would expect our regulator, in this instance, the NMDPRA, to kick start the process by calling for a meeting of all parties to discuss the framework for such supply or have NNPC respond to the various letters to it by the refineries requesting for crude,” Idoko stated.
Recall that last month, Tinubu directed NNPC to sell crude to the 650,000 barrels per day Dangote Refinery and other local refineries.
The government stressed that the move was to ensure the country meets up with its 450,000 barrels per day domestic obligation in line with the Petroleum Industry Act.
The intervention of Tinubu was intended to end the crude supply crisis Dangote Refinery has been battling.
SOURCE: Daily Post
