In a bid to implement presidential directive on crashing domestic prices of petroleum products, Dangote Refinery has partnered the Nigeria Export Processing Zones Authority (NEPZA) and the Federal Government’s Committee on the Sale of Crude in Naira.
The Federal Government established the committee to facilitate a one-stop-shop process aimed to streamline the sale of crude oil to local refineries, particularly the Dangote Refinery, by coordinating services from various regulatory, security, and other relevant agencies for smooth implementation.
NEPZA’s Managing Director, Olufemi Ogunyemi, stated thus:
The Authority supervised the construction of the highly celebrated world-class Dangote Refinery from the beginning to its inauguration, making it a success story for us.
“The mission for energy security is half achieved because the Dangote Refinery and Petrochemicals FZE is a registered Free Zone and as such continues to benefit from the scheme’s incentives. Since the Federal Government has put a lot into ensuring the establishment of the refinery, I believe the time has come for the entity to lead our drive for energy security”.
The refinery which had since commenced operation with the delivery of 480 vessels so far, was proudly linked to producing a wide range of crude types and gradually meeting the country’s domestic demand for petrol, diesel, kerosene aviation jet fuel, and for export.
That the sale of crude in naira would obliterate the vulnerability of the local currency against the dollar in crude transaction within the country.
“Let me reiterate that the Free Trade Zone Scheme remains a key economic driver of our nation and so, we are happy that the Dangote Refinery is one of our shining stars that shall be used to drive this policy.”