- Liborous Oshoma urged the Dangote refinery to sell fuel to marketers in local currency to ease foreign exchange pressures on local businesses
- He emphasized that selling diesel in dollars complicates purchases for marketers, advocating for a shift to naira transactions to reduce costs
Liborous Oshoma, a lawyer and energy consultant, has advocated for the Dangote refinery to sell fuel to depot owners and marketers in local currency to alleviate pressure on foreign exchange.
Oshoma highlighted that with President Bola Tinubu’s directive for the Nigerian National Petroleum Company Limited to sell crude oil intended for local consumption to local refineries in naira, Dangote must adopt the same approach. This, he believes, would help reduce the price of petroleum products.
“I’m not referring to Premium Motor Spirit (PMS) at this moment; my focus is on diesel. Despite being produced locally, Dangote sells fuel to marketers in dollars, not in naira. Many marketers, except a few, have to source foreign exchange for their purchases, which has been a point of contention between Dangote and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN). Additional disagreements revolve around the costs of exporting versus selling locally,” Oshoma explained.
He suggested that the recent issues between Dangote and regulatory bodies stem from a lack of clear communication. Oshoma also noted that relying solely on the Dangote refinery is not ideal for Nigeria, as logistical challenges such as inadequate road networks and insufficient transportation infrastructure make it difficult for marketers to obtain large quantities of petroleum products.
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