Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has met with relevant stakeholders with a view to ensuring the realization of a policy objective of the Federal Government that seeks to sell crude oil to local refineries in Naira,
The meeting which had in attendance Mr. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil); Mr. Mele Kyari, Group Chief Executive Officer of NNPCL; Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS); Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance; and other notable participants provided an opportunity for in-depth discussions, which underscored longstanding challenges within the petroleum sector.
A statement by the ministry described the engagement as a bold move to ensure the full implementation President Bola Ahmed Tinubu’s directive for the Nigerian National Petroleum Corporation Limited (NNPCL) to transact with local refineries in the nation’s currency.
Mohammed Manga, Director Information and Public Relations at the ministry of finance who signed the statement said the initiative aims at strengthening the domestic economy as well as supporting the sustainable operations of local refineries, including the Dangote Refinery.
He stated that Mr Edun expressing optimism that with the collaborative efforts of all stakeholders, adding that the groundbreaking initiative will empower local refineries, stimulate economic growth, and redefine the nation’s petroleum landscape.
“By harnessing the collaborative spirit of key stakeholders,Nigeria is poised to witness a transformative shift in its economic trajectory. Thus, the country is set to unlock new opportunities, overcome longstanding challenges, and emerge stronger.”
Manga said the Naira Crude Sales initiative marks a significant milestone in Nigeria’s journey towards economic prosperity, and all eyes are on the promising future that lies ahead.
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