Social media users’ responses to Nigerian businessman Femi Otedola’s revelation that President Bola Ahmed Tinubu of Nigeria offered to sell Aliko Dangote crude oil in Naira have been mixed. On Monday, he made this declaration on his official X (formerly known as Twitter).CONTINUE FULL READING>>>>>
In the post that he shared on his Official X, Nigerian entrepreneur Femi Otedola revealed that the Federal Executive Council has approved a proposal by President Tinubu to sell crude oil to Dangote Refinery and other emerging refineries in Nigerian currency, the Naira.
This move aims to maintain the stability of fuel prices and the exchange rate between the dollar and naira. Currently, Dangote Refinery requires 15 shipments of crude oil annually, valued at $13.5 billion. The Nigerian National Petroleum Corporation (NNPC) has agreed to supply four of these shipments.
Here is what Femi Otedola wrote on his official X handle:
“To ensure the stability of the pump price of refined fuel and the dollar-Naira exchange rate, the Federal Executive Council today adopted a proposal by President Tinubu to sell crude to Dangote refinery and other upcoming refineries in Naira. Dangote Refinery at the moment requires 15 cargoes of crude, at a cost of $13.5 billion a year. NNPC has committed to supply four”
However, after the report emerged online, there were several reactions from social media users.
Below are the reactions:CONTINUE FULL READING>>>>>
