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Posted By MrCover On April 4th, 2024

Omokri explained that Naira would improve against the US dollar when the Dangote refinery begins operations.

He suggested that fuel importation might stop when Dangote refinery begins operation in Nigeria.

Posting on X, the former presidential aide wrote: “If you bet against the Naira because of the evil ₦2000 to $1 prophecy, just face it that you have lost the money you intended to make by economically exploiting Nigeria.

“But if you wait until Dangote Refinery starts selling every petroleum product needed in Nigeria, including Premium Motor Spirit, Diesel and Aviation Jet A1 fuel, you will lose even more.

“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”

The petrol products are diesel and aviation jet fuel, sources revealed this to Reuters on Tuesday.

Abubakar Maigandi, the head of the Independent Petroleum Marketers Association of Nigeria, 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.

Source: https://dailypost.ng/2024/04/03/convert-your-dollars-to-naira-before-dangote-refinery-starts-omokri-to-nigerians/