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ActionAid Nigeria (AAN) has raised alarm over the suspension of naira-based petroleum product sales by Dangote Petroleum Refinery, warning of its dire economic consequences.
In a statement issued Tuesday in Abuja, AAN Country Director, Andrew Mamedu, criticized the move, attributing it to panic buying, hoarding, and speculative price hikes that further burden Nigerians.
“The suspension of the naira-for-crude agreement will push more Nigerians into multidimensional poverty, deepen social inequalities, and create further economic instability,” Mamedu stated.
He urged the Federal Government to act swiftly in restoring public confidence and ensuring transparency in the energy sector.
ActionAid also questioned the Nigerian National Petroleum Company Limited’s (NNPCL) preference for fuel imports over local refining, calling for independent third-party monitoring of crude oil transactions and pricing.
The organization demanded a comprehensive review of pricing models to prevent exploitation by depot owners and marketers, emphasizing the need for clear information on local refining and crude supply.
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