The federal executive council (fec) has directed the nigerian national petroleum company (nnpc) limited to sell crude oil to dangote refinery and other local refineries in naira and not in united states greenback.

Federal inland revenue service (firs) Boss Zack Adedeji disclosed this after a fec meeting chaired by president bola Tinubu in Abuja.

He said the measure would reduce the strain on the country’s foreign spendings and stabilise the pump price of petrol, diesel and other products in nigeria.