Sell crude to Dangote in Naira to prevent fuel scarcity, NLC urges FG
The Nigeria Labour Congress (NLC) has asked the federal government to sell crude oil to the Dangote Refinery in naira, warning that insisting on foreign currency transactions could trigger fresh petrol scarcity and higher pump prices.
Joe Ajaero, NLC president, represented by Funmi Sessi, Lagos state chairperson, made the appeal during a facility tour of the Dangote Refinery and Fertiliser complex organised for journalists.
“This country has crude oil in abundance. So why is Dangote still being made to import crude or pay for it in hard currency?” the NLC queried.
“If the government is truly committed to reducing fuel prices and supporting local refining, it must sell crude oil to Dangote in naira.”
He questioned the rationale for selling crude in foreign currency to a domestic refinery with the capacity to meet national demand.
“With a daily refining capacity of 650,000 barrels, this plant can supply Nigeria and even West Africa. Government should not add unnecessary hurdles by forcing crude purchases in foreign exchange, which raises operational costs,” Sessi said.
The NLC said selling crude in naira would reduce costs, stabilise supply, and support sustainable fuel price reductions.
It also described the refinery as a strategic national asset capable of bridging Nigeria’s fuel supply gap, creating jobs, and boosting confidence in local industrial capacity.
Sessi praised the massive scale and strategic significance of the Dangote Group’s investments, stating that the projects are delivering tangible benefits to the Nigerian people.
“Today, we have seen the massive Dangote Refinery project, as well as the fertiliser plant. We have also observed some of Dangote’s other investments in this axis. It is truly enormous and highly impressive,” said the NLC chairperson.
“I believe what we have seen is a clear effort to bridge the gap in the availability of essential products in the country and to create job opportunities for Nigerians and others, as well as industrialise the country.”
Devakumar Edwin, vice-president of oil and gas at Dangote Industries Limited, said the company will deploy 4,000 Compressed Natural Gas (CNG)-powered trucks to distribute refined products nationwide.
He said the fleet would reduce logistics costs and ensure the benefits of local refining are reflected at the pump, adding that the CNG trucks are meant to complement, not replace, existing distributors.
