Dangote Refinery: FEC approval of crude oil commendable – Arewa Think Tank, CSOs

The Arewa Think Tank (ATT) has commended President Bola Ahmed Tinubu-led Federal Executive Council (FEC) for approving the sale of crude oil to Dangote Refinery and others in naira. The convener of Arewa Think Tank, Muhammad Alhaji Yakubu, and the co-convener of the CSOs, Rev. Nicholas Daniel Jatau, said in a statement on Tuesday that […]

The Arewa Think Tank (ATT) has commended President Bola Ahmed Tinubu-led Federal Executive Council (FEC) for approving the sale of crude oil to Dangote Refinery and others in naira.

The convener of Arewa Think Tank, Muhammad Alhaji Yakubu, and the co-convener of the CSOs, Rev. Nicholas Daniel Jatau, said in a statement on Tuesday that the FEC’s approval of the crude oil supply to Dangote Refinery, barely 24 hours after it called for the government’s action on the alleged sabotage of the refinery, showed that President Tinubu is a listening leader.

“We understand that the key point of President Tinubu’s directive is to ensure the stability of the pump price of refined fuel and the dollar-naira exchange rate, so the Federal Executive Council adopted a proposal by President Tinubu to sell crude to Dangote Refinery and other upcoming refineries in naira.

“It is a stepping stone that NNPC has committed to supply four cargoes of crude out of the Dangote Refinery at the moment, which requires 15 cargoes of crude, at a cost of $13.5 billion a year.

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“We want to use this opportunity to thank Mr. President for the establishment of the North-West Development Commission. It is indeed a good initiative for the development and progress of the region,” the statement read.

The group also lauded the signing of the bill on the new minimum wage of N70,000 into law without delay.

“This is part of the signs of many good things coming the way of the people of our great country, Nigeria. All we need to do is give the president enough time and space to achieve this.

“We want to use this opportunity to caution the United States, United Kingdom, and Canada about issuing security alerts to their citizens in Nigeria, warning them of potential violence during the planned nationwide protests.

“We consider this putting mere fears on travellers when there is calm and security for every citizen in Nigeria despite the looming threats of nationwide protest,”  the statement read.