By Goodluck Ikiebe
In a bold move to ensure the full implementation of the President’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 has met with relevant stakeholders with a view to ensuring the realization of the policy objective of the Federal Government
This initiative, according to the Spokesman in the Finance Ministry, Mohammed Manga, 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 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.
As the meeting drew to a close, a sense of strong confidence and collective purpose filled the air with Mr 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 says 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.
