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    Economy

    Nigeria Pushes Forward with Crude Sales in Naira Initiative

    EditorBy EditorMay 9, 2025Updated:May 9, 2025No Comments2 Mins Read
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    The follow-on meeting of the Technical Sub-Committee on the Crude and Refined Product Sales in Naira initiative convened earlier today under the chairmanship of the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
    FEC Orders Full Implementation of Naira-for-Crude policy
    The session reviewed implementation milestones and recorded notable progress since the last engagement.
    The meeting was attended by the Executive Chairman of the Federal Inland Revenue Service and Chairman of the Technical Sub-Committee, Mr. Zacch Adedeji; the Special Adviser to the President on Energy, Ms. Olu Verheijen; as well as senior representatives of the Nigerian National Petroleum Company Limited (NNPCL),

    Others are local refining operators, and key regulatory institutions including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Ports Authority (NPA).

    Fresh Petrol Hike Looms as Dangote Refinery Stops Sales in Naira

    Stakeholders reaffirmed their shared commitment to the effective and seamless execution of the policy, which remains a critical component of President Bola Tinubu’s broader strategy to strengthen the Naira, enhance energy security, and promote local value addition within the sector.
    The Coordinating Minister of the Economy commended the continued collaboration across agencies and partners and will provide further updates in due course.

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