President Bola Tinubu believes the naira for crude transactions will stabilize the oil sector.

At a review meeting with the Implementation Committee on the naira-based sales of crude oil and refined products, presidential spokesman Bayo Onanuga quoted his principal as warning that whatever solution proffered in crude oil and refined products sales in naira should not take the country back to its experience in the last 40 years.

He called on stakeholders in the sector to look inward and consider supplying enough petrol and petroleum products for local consumption to stop the persistent reliance on importation.

Meanwhile, the President and Chief Executive of Dangote Group, Aliko Dangote, has shed more light on how to end the reoccurring issue of fuel queues in the country.

Dangote, who briefed State House reporters in Abuja, urged the Nigeria National Petroleum Company Limited (NNPCL) and marketers across the country to stop the importation of fuel.

He expressed optimism that the refinery is the solution to the lingering fuel queues across the nation, adding that with an estimated 30-32 million litters daily consumption, his refinery which has the capacity of 500 million litres in its tanks can serve the country.