Petrol price seen dropping as naira-for-crude deal to continue

10 Apr 2025 12:25 pm

Energy

The recent agreement between the Nigerian National Petroleum Corporation (NNPC) and oil marketers is expected to lead to a drop in petrol prices in the country. This deal allows for the continued use of the naira as the currency for crude oil transactions instead of the US dollar. This move is expected to reduce the cost of importing petroleum products which will ultimately lead to a decrease in petrol prices for consumers. The use of the naira for crude oil transactions also helps to stabilize the exchange rate and boost the countrys economy. This development is seen as a positive step towards making fuel more affordable for Nigerians.

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Responses

1) Dangote refinery today has slashed the pump price of petrol to Eight hundred and sixty five naira (#865) per litre as the naira-for-crude deal continues. This development is seen as a positive step towards making fuel more affordable for Nigerians. Are you optimistic about this new development between the federal government and Dangote refinery? 1
2) Nigerians have took to the social media to applaud the federal government for bringing the naira-for-crude deal back with Dangote which is seen to many has another successful milestone by this administration. Even though Nigerians have been down this road before, do you think this deal is going to be sustainable and will not be cut short like it was before? 1
3) The naira-for-crude deal is expected to far more reduce the cost of importation on petroleum products which will ultimately lead to more decrease in petrol prices for consumers and helps to stabilise the exchange rate and boost the country's economy. Is Nigeria's swindle economic finally back on her way up? 1

1) Dangote refinery today has slashed the pump price of petrol to Eight hundred and sixty five naira (#865) per litre as the naira-for-crude deal continues. This development is seen as a positive step towards making fuel more affordable for Nigerians. Are you optimistic about this new development between the federal government and Dangote refinery?
1 Replies

0 Reply
Reply #1-1

12 Apr

Since the federal government has removed the subsidy I think they shouldn’t have stopped the naira for crude deal. And yes I’m very optimistic about this new development it will help the citizens

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2) Nigerians have took to the social media to applaud the federal government for bringing the naira-for-crude deal back with Dangote which is seen to many has another successful milestone by this administration. Even though Nigerians have been down this road before, do you think this deal is going to be sustainable and will not be cut short like it was before?
1 Replies

0 Reply
Reply #2-1

12 Apr

Everyone is happy that the deal is back on track now but then I wouldn’t be surprised if the government takes it back again because they have done it before. I sincerely hope the deal will be sustained by both sides.

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3) The naira-for-crude deal is expected to far more reduce the cost of importation on petroleum products which will ultimately lead to more decrease in petrol prices for consumers and helps to stabilise the exchange rate and boost the country's economy. Is Nigeria's swindle economic finally back on her way up?
1 Replies

0 Reply
Reply #3-1

12 Apr

The naira for crude is a deal that will help both the government and dangote as a conglomerate itself. It really will help the economy of the country and maybe it going to set the economy back on track.

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