Relief as FG says naira-for-crude deal still in effect, meets Dangote officials

Relief as FG says naira-for-crude deal still in effect, meets Dangote officials

The Federal Government has calmed some frayed nerves by confirming that the naira-for-crude initiative with local refineries, including Dangote, is a key policy directive designed to ensure sustainable local refining. The government stressed that the initiative isn't a temporary measure, and as such, it is still in effect and will continue immediately. The assurance, given by the Finance Minister, Wale Edun, at a meeting with representatives of …

Global crude price drop, Naira-for-crude to lower petrol price – PETROAN — National Accord Newspaper %

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has said the recent drop in global crude The post Global crude price drop, Naira-for-crude to lower petrol price – PETROAN appeared first on National Accord Newspaper.

Naira-For-Crude policy will bring down petrol prices

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has expressed strong support for the Federal Executive Council’s recent approval of the continuation of the Naira-for-Crude policy — a move the association believes could mark a turning point in the country’s energy sector. Speaking to newsmen in Abuja, PETROAN’s National Public Relations Officer, Joseph Obele, said the association is optimistic that the policy, combin…

CNPP Lauds NNPCL's New Management, Demands Accountability and Incentives for Local Refineries

The Conference of Nigeria Political Parties (CNPP) has expressed strong support for the new management team of the Nigerian National Petroleum Company Limited (NNPCL) following their decision to reinstate the naira-for-crude initiative for local refineries. In a statement signed by Comrade James Ezema, Deputy National Publicity Secretary of the CNPP, the group described the […] The post CNPP Lauds NNPCL’s New Management, Demands Accountability a…

Energy Rights Group Backs Naira-for-Crude Policy, Warns New NNPCL Leadership Against Dubious Reforms - THE AUTHORITY NEWS

The Energy Justice Forum (EJF), a coalition of energy rights activists, has commended President Bola Tinubu for restoring the naira-for-crude policy, asserting that the move benefit local refineries and the broader Nigerian populace. In a statement on Friday, the group said the policy shift is not just in the interest of Dangote Refinery, but a long-overdue redirection for local refining capacity and everyday Nigerians who have long borne the bu…

Petrol Marketers Hail Return of Naira-for-Crude Policy, Say Panic Was Unwarranted

The Federal Government has restored the Naira-for-Crude initiative—a policy enabling local refineries to purchase crude oil using the Naira. The move, confirmed after a high-level meeting between Dangote Refinery executives and the Minister of Finance, aims to curb Nigeria’s overreliance on foreign exchange and boost local refining. The Federal Executive Council has now directed full implementation of the agreement involving NNPC Limited, Dangot…