Group urges FG to sell petrol to African countries in naira

A pro-democracy organization, Kwara Must Change, has urged the Federal Government to partner with the Dangote Group to sell its products, particularly petroleum, to African countries in naira.

READ ALSO:Methodist bishop gifts okada riders petrol in Imo

In a statement released on Sunday, the Convener of Kwara Must Change, Abdulrazaq Hamzat, stressed the importance of leveraging the Dangote refinery to boost Nigeria’s regional economic influence.

Hamzat noted that the proposal aligns with a broader vision of promoting the Nigerian currency across the continent.

“This landmark achievement of Dangote should not only serve Nigeria’s national interest but also its regional interest. Only countries in Europe, Asia, and America should purchase the products in dollars,” he said.

He further explained that this strategy could strengthen the value of the naira in regional trade, reducing the country’s dependence on the U.S. dollar.

Hamzat added, “Rather than chase foreign exchange, particularly the U.S. dollar, we should focus on making others seek the naira. This would have a much broader impact on our economy.”

READ ALSO:SERAP asks Tinubu to reverse petrol price hike, probe NNPCL

He argued that if the Federal Government adopts this approach, it could create a more favorable business environment for Nigerian industries, promote regional economic integration, and decrease dependence on foreign currencies. “This move could help stabilize the naira and encourage other African nations to adopt similar strategies for regional trade,” he said.

Hamzat also recalled a recent government policy approving the purchase of crude oil in naira for the Dangote refinery and other companies in Nigeria. “This means the refinery’s obligations in a foreign currency will be minimized, making this initiative achievable,” he added.

Kwara Must Change urged both the government and the Dangote Group to consider this proposal, stating, “We believe this aligns with Nigeria’s overall interest.”

READ ALSO:Commuters escape death as petrol tanker explodes in Ibadan