In a bold move to stabilize the local energy market and reduce dependence on foreign exchange, the Nigerian government has announced that the naira-for-crude oil deal with Dangote Refinery and other domestic refineries will continue indefinitely.
This declaration came after a high-level meeting of the Technical Sub-Committee on the Crude and Refined Product Sales in Naira Initiative, with key stakeholders reaffirming the deal’s importance to energy security and economic sustainability.
Despite earlier hiccups, including a temporary suspension by Dangote Refinery in March, the initiative is now firmly back on track. The Ministry of Finance stated via its official X (formerly Twitter) handle that the program “remains in effect and will continue as long as it aligns with public interest and national goals.”
Attendees included top government and industry leaders, such as Finance Minister Wale Edun, FIRS Chairman Zacch Adedeji, and representatives of the Central Bank, NNPC, and Dangote Petroleum Refinery.
Source: DailyPost.ng
