Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Tuesday, held a meeting with concerned stakeholders on the sale of crude oil to local refineries in naira.
Last month, the Federal Executive Council (FEC) approved a proposal by President Bola Tinubu, directing the Nigerian National Petroleum Company (NNPC) Limited, to sell crude oil to Dangote refinery and other refineries in the country in naira.
The meeting convened by the minister of the economy was to ensure the full implementation of the president’s directive, according to a statement by Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance.
The statement said the meeting was held in Edun’s office in Abuja, and aimed at reinforcing the local economy.
“This initiative aims at strengthening the domestic economy as well as supporting the sustainable operations of local refineries, including the Dangote Refinery”, the statement reads.
“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 HM 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”.
Manga further said by utilising 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,” he said.
