The Finance Minister said this Friday,  Dangote Oil Refinery started processing petrol in September and announced that NNPC Ltd would be the sole buyer. This arrangement allowed the government to continue to provide subsidies on oil products.

With a capacity of 650 000 barrels per day, Africa's largest refinery promises to ease oil producer Nigeria's costly reliance on imported oil products.

A Nigerian government committee chaired by Edun approved on October 1 the sale of crude to the Dangote refinery in the local naira currency, with the understanding that the refinery would fully meet the country's fuel needs. The committee said this was the next step in the transition to a completely deregulated market.

--Reuters--