{"id":156796,"date":"2025-03-26T12:52:03","date_gmt":"2025-03-26T11:52:03","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/nnpcls-dollars-for-crude-policy-direct-attack-on-local-refineries-centre"},"modified":"2025-04-04T13:34:23","modified_gmt":"2025-04-04T12:34:23","slug":"nnpcls-dollars-for-crude-policy-direct-attack-on-local-refineries-centre","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/nnpcls-dollars-for-crude-policy-direct-attack-on-local-refineries-centre","title":{"rendered":"NNPCL\u2019s \u2018dollars-for-crude\u2019 policy, direct attack on local refineries \u2013 Centre"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Centre for Energy Development and Economic Sustainability, CEDES, has strongly condemned the Nigerian National Petroleum Company Limited, NNPCL, over the recent Naira-for-Crude policy reversal, warning that the move is a deliberate attempt to cripple local refineries and sustain Nigeria\u2019s dependence on fuel imports.<\/p>\n<p>In a statement issued in Abuja on Tuesday, March 25, 2025, Dr. Umar Sani, Executive Director of CEDES, accused the NNPCL of working against the national interest by prioritizing foreign exchange gains over the survival of local refiners.<\/p>\n<p>He noted that the Naira-for-Crude arrangement had ensured a steady crude supply to Nigerian refineries while helping the government save on foreign exchange and reinvest in critical infrastructure.<\/p>\n<p>\u201cIt is outrageous that the NNPCL, instead of strengthening local refining, has decided to sabotage it by imposing a dollars-for-crude system. This policy is designed to choke local refineries, making it impossible for them to access crude oil at reasonable rates. The ultimate goal is to force Nigeria back into total reliance on fuel imports, which benefits only a corrupt few,\u201d Sani said.<\/p>\n<p>\u201cUnder the Naira-for-Crude system, the NNPCL could no longer make its usual bogus claims of petrol imports to justify billions of dollars in subsidies. The policy ensured transparency, saved the government huge amounts in foreign exchange, and allowed for reinvestment in developmental infrastructure. But with this new move, we are back to a system where crude oil is sold in dollars, fueling corruption and economic instability,\u201d he added.<\/p>\n<p>CEDES warned that the NNPCL\u2019s latest move could lead to higher fuel prices, petrol scarcity, worsening inflation, and further hardship for Nigerians.<\/p>\n<p>The centre called on the federal government to immediately reverse the policy and uphold the Naira-for-Crude system to support local refining and economic stability.<\/p>\n<p>\u201cWe demand that the government reinstate the Naira-for-Crude policy and stop this reckless sabotage of local refineries. The NNPCL must not be allowed to undermine Nigeria\u2019s energy security and economic sovereignty,\u201d Sani stated.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Centre for Energy Development and Economic Sustainability, CEDES, has strongly condemned the Nigerian National Petroleum Company Limited, NNPCL, over the recent Naira-for-Crude policy reversal, warning that the move is a deliberate attempt to cripple local refineries and sustain Nigeria\u2019s dependence on fuel imports. In a statement issued in Abuja on Tuesday, [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":156795,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[254,9636],"class_list":["post-156796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-nigeria","tag-nnpcl"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NNPCL\u2019s \u2018dollars-for-crude\u2019 policy, direct attack on local refineries \u2013 Centre - Nigeria<\/title>\n<meta name=\"description\" content=\"The Centre for Energy Development and Economic Sustainability, CEDES, has strongly condemned the Nigerian National Petro ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/nnpcls-dollars-for-crude-policy-direct-attack-on-local-refineries-centre\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NNPCL\u2019s \u2018dollars-for-crude\u2019 policy, direct attack on local refineries \u2013 Centre\" \/>\n<meta property=\"og:description\" content=\"The Centre for Energy Development and Economic Sustainability, CEDES, has strongly condemned the Nigerian National Petro ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/nnpcls-dollars-for-crude-policy-direct-attack-on-local-refineries-centre\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-26T11:52:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-04T12:34:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/03\/sm_1742981131.483045.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nnpcls-dollars-for-crude-policy-direct-attack-on-local-refineries-centre#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nnpcls-dollars-for-crude-policy-direct-attack-on-local-refineries-centre\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"NNPCL\u2019s \u2018dollars-for-crude\u2019 policy, direct attack on local refineries \u2013 Centre\",\"datePublished\":\"2025-03-26T11:52:03+00:00\",\"dateModified\":\"2025-04-04T12:34:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nnpcls-dollars-for-crude-policy-direct-attack-on-local-refineries-centre\"},\"wordCount\":343,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nnpcls-dollars-for-crude-policy-direct-attack-on-local-refineries-centre#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/03\/sm_1742981131.483045.jpg\",\"keywords\":[\"Nigeria\",\"NNPCL\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/nnpcls-dollars-for-crude-policy-direct-attack-on-local-refineries-centre#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nnpcls-dollars-for-crude-policy-direct-attack-on-local-refineries-centre\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/nnpcls-dollars-for-crude-policy-direct-attack-on-local-refineries-centre\",\"name\":\"NNPCL\u2019s \u2018dollars-for-crude\u2019 policy, direct attack on local refineries \u2013 Centre - 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