NNPC is trending because they’ve interestingly asked Dangote Refinery to give them permanent office spaces for 6-10 people. (can you imagine?.. In someone’s personal business?.. Lol 😂 )
Marketers, reported the refinery to Tinubu. And now about 95% of importers have begun boycotting them. Even after they dropped their price two times; from 1,200 to 900. Still they struggle to sell 29 tankers in a day.
Therefore, they were forced to focus on exporting their products.
NNPC is demanding an office space because, since they will be supplying crude and buying it back from Dangote Refinery, they’d need to have close monitoring of the entire process.
Even though they are yet to reach an agreement with Dangote Refinery.
Because, this is a special case where NNPC will sell crude in Naira and buy back refined products in Naira, which Aliko Dangote said he knows it will be at a loss for him due to the weak value of the Naira that is plunging everyday.
READ ALSO :The Unfortunate Realities of Dangote Refinery to ordinary Nigerians
Dangote said if they buy and sell in Naira and then convert it to dollars, there is no way he won’t be losing. But, he’s ready to take the risk because the country is in desperate need of intervention.
Therefore, they will do all they can to successfully develop a model, for the Naira to Naira crude transactions, which has never been done before. What’s delaying the NNPC & DR agreement now is they are trying to fix the pricing of crude, the pricing mechanism, fix the appropriate exchange rate for the Naira, to mitigate losses.
Devakumar V.G. Edwin, Vice President (Oil & Gas) of Dangote Group revealed all these today to NairaMetric.
Some Nigerians are scared, suspecting this “weird” situation is an attempt at internal sabotage by cabals or political move to stunt the refinery. And frustrate him out of business.
Because they believe NNPC is practically incapable of running a refinery, which is quite understandable, given the fact that no refinery has worked in the country for nearly three decades.
While others believe, NNPC is just stalling for unknown reason.
