President of Dangote Group, Aliko Dangote has attributed the persistent fuel queues across the country to the reluctance of retailers to purchase available stock from his refinery.
Speaking after a meeting with President Bola Tinubu and the Implementation Committee on Crude Oil and Refined Products Sales in Local Currency, at the State House, Dangote revealed that his refinery currently has 500 million liters of fuel, sufficient to last approximately 12 days and urges a stop to importation of the product
Describing the meeting as “extremely successful,” Dangote noted that President Tinubu directed both NNPC and independent marketers to purchase refined products locally, aiming to stabilize distribution and enhance supply.
Finance Minister and coordinating minister of the economy who doubles as the Chairman of the committee, emphasized the initiative to sell crude to local refiners in Naira as a step toward Nigeria’s industrialization with Afreximbank serving as a financial intermediary to support stable transactions amid currency volatility.
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