Nigeria has officially commenced the sale of crude oil and refined petroleum products in Naira, marking a significant milestone in the country’s economic policies under the leadership of President Bola Ahmed Tinubu. This bold initiative is aimed at enhancing economic self-reliance, fostering stability, and positioning Nigeria more strategically in global markets.<\/p>\n
The Honourable Minister of Finance and Coordinating Minister of the Economy announced that, as directed by the Federal Executive Council (FEC), the sale of crude oil and refined petroleum products in Naira officially began on October 1, 2024. The announcement was contained in a statement signed by Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance.<\/p>\n
Following the FEC directive, the Implementation Committee, chaired by the Minister of Finance, held a post-commencement review meeting. The meeting, which included key stakeholders from both the public and private sectors, affirmed the official start of the initiative. In attendance were the Honourable Minister of State, Petroleum (Oil); the Special Advisers to the President on Revenue and Energy; the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA); and senior executives from the Dangote Group and the Nigerian National Petroleum Company (NNPC), including the Group Chief Executive Officer (GCEO) and Chief Financial Officer (CFO).<\/p>\n
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Nigeria has officially commenced the sale of crude oil and refined petroleum products in Naira, marking a significant milestone in the country’s economic policies under the leadership of President Bola Ahmed Tinubu. This bold initiative is aimed at enhancing economic self-reliance, fostering stability, and positioning Nigeria more strategically in global markets. The Honourable Minister of […]<\/p>\n","protected":false},"author":2,"featured_media":48927,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-50956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/50956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=50956"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/50956\/revisions"}],"predecessor-version":[{"id":50957,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/50956\/revisions\/50957"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/48927"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=50956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=50956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=50956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}