By The Centre for Energy Development and Economic Sustainability (CEDES) has criticized the Nigerian National Petroleum Company Limited (NNPCL) over its recent Naira-for-Crude policy, calling it a threat to local refineries and national energy security.
CEDES Executive Director, Dr. Umar Sani, accused NNPCL of prioritizing foreign exchange gains over the survival of domestic refiners. He warned that the move could lead to petrol scarcity, higher fuel prices, and worsening inflation.
The group urged the federal government to reverse the policy to protect Nigeria’s refining sector and economic stability.
