Crude Oil Sale In Naira: Edun, NNPL, FIRS, In Crucial Meeting

In a further demonstration of President Bola Tinubu directive to the Nigerian National Petroleum Corporation Limited (NNPCL) to sell crude oil to local refineries in Naira, Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun on Tuesday met with relevant stakeholders with a view to ensuring the realization of this policy objective of the federal government .

Edun was optimistic about the groundbreaking initiative will empower local refineries, stimulate economic growth, and redefine the nation’s petroleum landscape, a statement issued by Director of information in the ministry Mohammed Manga said.

Government bold initiative aims at strengthening the domestic economy as well as supporting the sustainable operations of local refineries, including the Dangote refinery.

In attendance at the meeting included, 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.

“The meeting provided an opportunity for in-depth discussions, which underscored longstanding challenges within the petroleum sector.

“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 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”, statement from the finance ministry said.