Naira-to-Crude Initiative
Sector: Government • Location: Nigeria
Source: Nairametrics
The Naira-to-Crude initiative was launched by the Nigerian government to enhance domestic refining capacity by allowing local refineries, including the Dangote refinery, to purchase crude oil in Naira. However, the initiative has faced inconsistent implementation, leading to supply shortages for local refineries and increased fuel prices for consumers.
- Status
- Under Construction
- Sector
- Government, Oil and Gas
- Location
- Nigeria
- Updated
- 22 Jul 2026
- Source
- Nairametrics
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Project Information
Participants
Sponsoring Agency |
Status
Original status | Ongoing |
Taiyo status | Under Construction |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | The Naira-to-Crude initiative was launched by the Nigerian government to enhance domestic refining capacity by allowing local refineries, including the Dangote refinery, to purchase crude oil in Naira. However, the initiative has faced inconsistent implementation, leading to supply shortages for local refineries and increased fuel prices for consumers. |
Original sector | Energy |
Location
Country | Nigeria |
Source
Source | Nairametrics |
URL |
More Details
Record type | Project |
Sector | Government, Oil and Gas |
Article published date | 2025-03-07 |
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