N4,000/$ Exchange Rate: NDC asks why refineries are not working

By Henry Umoru
ABUJA — The Nigeria Democratic Congress (NDC) has faulted the Federal Government’s warning that a return to petrol subsidy could push the naira to between N3,000 and N4,000 per dollar, demanding explanations for the failure of the country’s refineries to operate effectively.
The party also questioned why Nigeria had mortgaged a sizeable portion of its crude oil to secure foreign loans, alleging that the arrangement had affected the country’s ability to supply the Dangote Refinery with sufficient crude oil to meet domestic demand.
The NDC’s National Publicity Secretary, Osa Director, made the remarks while reacting to comments by the Minister of Finance and Coordinatin...