The Federal Executive Council, FEC, on Monday approved the sale of crude oil to Dangote Refinery and other local refineries in naira instead of dollars.
Zacch Adedeji, Chairman of the Federal Inland Revenue Service, FIRS, announced this while briefing State House reporters.
However, he added that Dangote and other local refineries are also required to sell their refined products to marketers for local consumption in naira.
Recall that the Federal Government and the Dangote refinery have engaged each other recently over some disagreements with regard the quality of the refinery’s oil.
Aliko Dangote, Africa’s richest man and the owner of the refinery had insisted that the fuel produced by his refinery is of a very high quality and even much better than what many dealers import and sell to Nigerians.