The Federal Executive Council, FEC, on Monday approved the sale of crude oil to Dangote Refinery and other local refineries in the local currency instead of dollars.
Chairman of the Federal Inland Revenue Service, FIRS, Zacch Adedeji, made this known while briefing State House reporters.
He also explained that Dangote and other local refineries are also required to sell their refined products to marketers for local consumption in naira.
Dangote Refinery and the Federal Government have recently disagreed over the quality of the refinery’s oil.
Africa’s richest man and the owner of the refinery, Aliko Dangote, had stood his ground that the fuel produced by his refinery is not only of a very high quality and also much better than what some dealers import and sell to Nigerians.
