Reno Omokri, former Presidential aide and social commentator has urged Nigerians to consider converting their US dollars to Naira.
Gatekeepers News reports that according to Omokri, the value of the Naira is likely to strengthen against the US dollar once the Dangote refinery starts operating.
Additionally, he believes that the refinery’s operation could potentially lead to a halt in fuel importation in Nigeria.
“Once Nigeria stops importing fuel, the Naira will rise even more dramatically.
“Count your losses. Convert your Dollar to Naira now or prepare to holler by May 2024, when Dangote Refinery will flood the market with inexpensive petroleum products. #GrowNairaBuyNaija”
Dangote Refinery has commenced the supply of diesel and aviation jet fuel to the Nigerian market.
Abubakar Maigandi, the Head of the Independent Petroleum Marketers Association of Nigeria, on Tuesday said that local oil marketers set the price at N1,225 ($0.96) per litre for diesel after securing a bulk purchase agreement, prior to adding their mark-up.
The association’s members control about 150,000 retail stations across Nigeria, Maigandi said.
