The devaluation of the Naira from ₦460 to ₦1,400 was the biggest mess of 2023, according to Dangote
On Sunday, Devakumar Edwin, vice-president of oil and gas at Dangote Industries Limited (DIL), charged that international oil corporations (IOCs) in Nigeria were taking every possible step to obstruct Dangote Oil Refinery and Petrochemicals’ ability to continue operating.
According to Edwin, the IOCs are purposefully and knowingly impeding the refinery’s attempts to purchase local crude by inflating the premium rates over the going rate. This forces the refinery to import crude from other nations, including the United States, which entails significant expenses.
