Forex Will Go Into Real Development With Adequate Local Fuel Supply — President Tinubu
President Bola Ahmed Tinubu has challenged stakeholders to look inward and consider supplying enough petrol and other products for local consumption to stop reliance on importation.
Tinubu in a review meeting at the Presidential Villa in Abuja, stated that this would enable the channeling of foreign exchange into the development of the real sector.
He applauded the Implementation Committee on the Naira-based sales of crude oil and refined products and asked the members to resolve any teething problems.
The president stressed that using the naira was conceived to remove the exchange rate hurdle, noting that the various players in the oil sector, including the Nigerian National Petroleum Corporation Limited, NNPCL and the Dangote Refinery, should work to improve the economy and the livelihood of Nigerians.
On his part, the President of Dangote Group, Aliko Dangote posited that that the refinery had more than 500 million litres of fuel in reserve after supplying 400 million to the economy.
