During a Twitter Space event hosted by Nairametrics, Edwin explained, “NNPC has informed us that they intend to station a team of 6 to 10 people permanently at our refinery. They’ve asked us to provide office space for them since they will be supplying the crude, overseeing the production, and buying back the products in Naira.”
This innovative deal aims to allow Dangote Refinery to buy crude in Naira and sell Premium Motor Spirit (PMS) in the same currency. Discussions with the government remain ongoing, with key issues yet to be resolved, such as the pricing model and exchange rate mechanisms.
Aliko Dangote himself has shown a willingness to take financial losses for the benefit of the nation. Edwin quoted him saying, “I am willing to take this loss in the interest of the country. The country is in bad shape. Someone has to take certain risks, and I am ready to face this loss, no matter how significant it may be.”
This development highlights both the financial and patriotic stakes involved in the partnership, with Dangote Refinery playing a pivotal role in reshaping Nigeria’s energy landscape.
