Nigeria Reaches Agreement With Dangote on Gasoline Distribution.

Nigeria has reached an agreement with the Dangote Refinery, in which the Nigerian National Petroleum Co. will supply crude to the refinery and in return be the sole distributor of gasoline from the plant. This deal has the potential to disrupt global trade in crude and refined products, as it reduces Nigeria's dependence on imports and the refinery's need for imported crude. The Dangote Refinery will be able to produce enough gasoline to meet Nigeria's demand, and the transaction will be performed in local currency. This initiative aims to reduce pressure on the naira, eliminate unnecessary transaction costs, and improve the availability of petroleum products in the country. [Extracted from the article]