Selling Crude Oil in Dollars Unsustainable for Local Refineries, Says Oyarekhua
The Chairman of OPAC Refineries, Mr. Momoh Oyarekhua has said that selling crude oil in foreign currencies is not sustainable for local modular refineries in the country, thus calling for the sale of the products in Naira.
He made the call in a statement yesterday in response to the sudden drop in the price of crude oil in the international market due to the collapse in demand as a result of the coronavirus pandemic,
Oyarekhua maintained that the government “has a major role to play, first by ensuring the protection of the private refineries as that will enable the refineries to improve productivity.”
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