Tinubu’s order for NNPCL to Sell Crude oil to Dangote, Local refineries in Naira, Excites HOSTCOM

Host Communities of Nigeria Producing Oil and Gas (HOSTCOM) have lauded President Bola Ahmed Tinubu for directing the Nigeria National Petroleum Company Limited (NNPCL) to sell Crude Oil to Dangote and Local Refineries with Naira Component.
This was contained in a letter addressed to President Tinubu and signed by the National President of HOSTCOM, his Highness Dr. Benjamin Tamaranebi (JP) titled: Thank you Mr. President for granting our demand to support Dangote Refinery and other indigenous refineries in Nigeria to produce Fuel Locally and stop costly importation.
The letter reads, “On Saturday 27th July, 2024, the National Executive Council and Board of Trustees of Host Communities of Nigeria Producing Oil and Gas (HOSTCOM) including some prominent Traditional Rulers in Niger Delta region, visited Dangote refinery, on inspection to ascertain the true status of the largest refinery in Africa, proudly and strategically situated in Lagos State.

“While at the magnificent 650,000 bpd private Dangote Refinery, we made an appeal to you Mr. President to direct the Nigeria National Petroleum Company Limited (NNPCL) and International Oil Companies IOCs operating in our communities to sell and supply crude oil to Dangote Refinery and other local Refineries.

“We also emphasized that supplying crude oil to Dangote Refinery will help to meet the domestic demands of Nigerians, and will certainly put an end to continuous importation of substandard and costly refine petroleum products into Nigeria.

“Commendably, on Monday 29th July, 2024, you directed the Nigeria National Petroleum Company Limited to sell crude to Dangote Refinery and other upcoming refineries in Naira.

“This laudable decision was approved at the Federal Executive Council.”
According to Dr. Tamaranebi, what the President has done will ultimately give hope and confidence to local and international investors to invest in Nigeria which will improve the economy and more importantly create jobs for the youths.

“Your directive to NNPCL to sell crude oil to Dangote Refinery and local Refineries is an attestation to government efforts to stabilize, reduce fuel prices and ensure availability of refined products.

“An African Proverbs says ‘A man at the river side will not use saliva to wash his hands’. Therefore, Nigeria blessed with abundance of crude oil and having Refineries in the country should not be importing refined products and buying same at high price.”
The HOSTCOM president also urged the President to also ensure that the Port Harcourt, Warri and Kaduna Refineries are made to commence production as soon as possible.

“Finally, it is our submission that Alhaji Aliko Dangote and other Modular Refinery owners be appreciated for their patriotism and commitment in investing and building the magnificent 650,000 bpd Refinery and others in Nigeria.”

He appealed to fellow Nigerians to start thinking positively by believe that with this direction of local refining the hardship will be drastically reduce to the barest minimum.