Mkpoikana Udoma
Port Harcourt — In a move to transform Nigeria’s petroleum landscape, Finance Minister Wale Edun has met with business mogul Aliko Dangote and top officials of the Nigerian National Petroleum Company Limited, NNPCL, to finalize plans for the sale of crude oil to local refineries in Naira.
The high-level meeting, held at the Ministry of Finance, aimed to implement President Bola Tinubu’s directive for NNPCL to sell crude oil to indigenous refineries, including Dangote Refinery, in local currency.
The meeting was attended by notable industry stakeholders including Mr. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil); Mr. Mele Kyari, Group Chief Executive Officer of NNPC Ltd; Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service; Mrs. Lydia Shehu Jafiya, Permanent Secretary Federal Ministry of Finance; and other participants.
This crude oil sale in Naira initiative aims at strengthening the domestic economy as well as supporting the sustainable operations of local refineries, including the Dangote Refinery.
Speaking, the Minister of Finance, Wale Edun, expressed optimism that with the collaborative efforts of all stakeholders, the initiative will empower local refineries, stimulate economic growth, and redefine the nation’s petroleum landscape.
Edun said thd meeting was imperative to provide an opportunity for in-depth discussions, which underscored longstanding challenges within the petroleum sector.
“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.”
