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- As the naira-for-crude woody comes to an end, Petrol retailers person asked the national authorities to probe the details
- The marketers besides called connected the home refineries to desist from importing substandard crude lipid into Nigeria
- Meanwhile, insiders person shown optimism that the naira-for-crude woody volition resume soon arsenic the negotiating parties are signaling progress
Legit.ng journalist Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful concern reporting crossed integer and mainstream media.
With the aviator signifier of the naira-for-crude ended, petrol retailers successful Nigeria person asked the federal government to behaviour a proble.
The marketers noted that it is indispensable to appraise the aviator phase, which lasted six months, earlier entering a semipermanent agreement.
Speaking nether the umbrella of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), they called connected the Minister of State for Petroleum, Heineken Lokpobiri, to behaviour the probe successful the champion involvement of Nigerians.
Source: Getty Images
The naira-for-crude woody officially commenced connected October 1, 2024, for an archetypal six-month period. The extremity was to merchantability crude to the section refineries, including Dangote Refinery, utilizing naira arsenic the currency of transaction.
Renegotiations are ongoing to renew the deal, though determination are speculations that the authorities whitethorn not proceed to merchantability crude lipid for naira.
Petrol Marketers promote refineries to lone bargain high-quality crude
The PETROAN Spokesperson, Joseph Obele, besides noted successful his connection that with the archetypal signifier of the naira-for-crude woody ended, home refineries indispensable instrumentality large attraction to import lone high-quality crude oil.
Obele pointed retired that Nigerian crude lipid is grouped among saccharine crude and noted to beryllium 1 of the champion successful the world, having little than 0.5% sulphur content, the SUN reports.
He urged the refineries to guarantee to lone import crude lipid that falls wrong the aforesaid standards, truthful arsenic to guarantee the prime of the refined petroleum products they merchantability to Nigerians.
Recall that PETROAN earlier accused the home refineries of importing substandard crude oil.
The radical noted that the improvement started aft the suspension of the naira-for-crude deal.
The PETROAN Spokesman noted that selling of substandard petroleum products would yet harm the Nigerian consumers.
Obele urged regulatory agencies to behaviour a thorough investigation of each crude lipid imports to guarantee that home refineries lone get high-quality crude.
Petrol marketers privation imports to continue
The petroleum retailers again stressed the request for the substance importation window to beryllium near unfastened to guarantee an capable proviso of each petroleum products.
Source: Getty Images
They noted that the importation would guarantee dependable contention and terms stability, which is successful the champion involvement of Nigerians.
Obele projected that substance prices would travel down soon, arsenic the national authorities reforms successful the downstream assemblage engender a steadfast competition.
Naira-for-crude woody acceptable to resume
In related news, the naira-for-crude woody is acceptable to continue, according to wrong sources acquainted with the matter.
All the parties progressive successful the negotiations are scheduled to reconvene soon, and each indications are that the woody volition resume.
Since the suspension of the naira-for-crude deal, Dangote Refinery has stopped selling its refined products successful naira, and has made dollars its currency of transaction.
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Source: Legit.ng
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