To ensure the full implementation of President Bola Tinubu’s directive for the Nigerian National Petroleum Corporation Limited (NNPCL) to sell crude oil to local refineries in naira, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun on Tuesday met with relevant stakeholders to ensure the realisation of the policy objective.
The initiative aims at strengthening the domestic economy as well as supporting the sustainable operations of local refineries, including the Dangote Refinery.
The meeting, which brought together important stakeholders, including the Minister of State for Petroleum Resources (Oil), Mr. Heineken Lokpobiri; the Group Chief Executive Officer of NNPCL, Mr. Mele Kyari; the Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji; the Permanent Secretary of the Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya; and other notable participants provided an opportunity for in-depth discussions, which underscored long-standing challenges within the petroleum sector.
According to a statement by the Director of Press and Public Relations in the ministry, Mr Mohammed Manga, the meeting drew a sense of strong confidence and collective purpose with Edun expressing optimism that with the collaborative efforts of all stakeholders, this 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, the statement noted.
“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.”
