‘Why Tinubu must sell crude oil to Dangote in naira’

The Arewa Youth Ambassadors (AYA), has weighed in on the supply of crude oil to Dangote Petroleum Refinery (DPR). At a press briefing on Thursday in Abuja, Muktar Abdurrahman Auwal, the group secretary, urged the President Bola Tinubu-led administration not to sell crude oil to DPR in dollars but naira. He said: “Selling crude oil […]

The Arewa Youth Ambassadors (AYA), has weighed in on the supply of crude oil to Dangote Petroleum Refinery (DPR).

At a press briefing on Thursday in Abuja, Muktar Abdurrahman Auwal, the group secretary, urged the President Bola Tinubu-led administration not to sell crude oil to DPR in dollars but naira.

He said: “Selling crude oil to DPR in foreign currency is going to be counterproductive as far as the Nigerian masses are concerned. The vulnerability of the Naira due to foreign exchange has caused an untold hardship to the majority of Nigerians.

“Inflation has remained high largely due to higher cost of fuel. Thus, the price of goods and services today has prevented the common man from enjoying the dividend of democracy in Nigeria. The Nigerian government therefore must take an extraordinary measure to stabilize the economy and make life easy for the millions of Nigerians who are poor and vulnerable.

“Making fossil fuel available in Nigeria using the 650,000 barrel per day production capacity of the DPR is not enough to bring down the cost of food and other essential commodities for the survival of Nigerians. However, lower petroleum products cost will surely bring back smiles and happiness to hundred million Nigerians.”