By Emmanuel Addeh
The Nigerian National Petroleum Corporation (NNPC) has said there are ongoing discussions with refinery owners in the country to sell crude oil in local currency.
Chief Operating Officer, Refineries and Petrochemicals at the NNPC, Mr. Mustapha Yakubu, who spoke at the oil and gas conference in Abuja, recently, explained that the need to sell crude oil in naira was further necessitated by the scarcity of foreign exchange in the country.
He explained that some completed private refineries are yet to commence production because they were yet to conclude with the national oil company on the procurement of feedstock for their refineries.
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