No going back on Naira-for-crude implementation –FG - Daily Trust

No going back on Naira-for-crude implementation –FG - Daily Trust

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has reiterated that the Technical Sub-Committee on the Crude and Refined Product Sales in Naira is proceeding with the implementation of the federal government’s initiative to conduct crude oil and refined product transactions in naira. The arrangement is part of President Bola Tinubu’s broader economic strategy to stabilise the Naira, improve energy security, and deepe…

Nigeria oil and gas reform commendable, but execution still the missing link

Over the years, Nigeria’s oil and gas sector has been plagued by weak management, lack of accountability, defective leadership, and reactive regulation, which has caused the country to lose ground among the leading oil-producing nations. The Bola Tinubu-led government introduced reforms aimed at revitalising the industry to address critical challenges in this sector. While the […]

FG Hails Milestones of Naira-for-Crude Deal

The Nigerian government has lauded the progress of its Naira-for-Crude initiative, a strategic policy aimed at enhancing the value of the naira, bolstering local refining capacities, and reducing the nation’s reliance on foreign exchange for petroleum transactions. Policy Overview Launched on October 1, 2024, the Naira-for-Crude deal permits local refineries, notably the Dangote Petroleum Refinery, [...] Source from InfoStride News

"Part Of Tinubu's Strategy To Stabilize Naira" - Edun Reports Progress On Crude Sales In Local Currency - TheNigeriaLawyer

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has reiterated that the Technical Sub-Committee on the Crude and Refined Product Sales in Naira is proceeding with the implementation of the federal government’s initiative to conduct crude oil and refined product transactions in naira. The arrangement is part of President Bola Tinubu’s broader economic strategy to stabilise the Naira, improve energy security, and deepe…

Wale Edun says progress on naira-for-crude deal will be revealed soon

Wale Edun, the minister of finance and coordinating minister of the economy, has promised to provide further updates on the naira-for-crude deal in due course.   In a statement on Friday, Mohammed Manga, the ministry’s director of information and public relations, said a meeting of the technical subcommittee on the crude and refined product sales in naira initiative convened on Thursday.   Speaking at the meeting, Edun commended the “continued c…

Naira Maintains Stability against Dollar at Official Market

By Adedapo Adesanya The Naira was relatively flat against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, May 9, though it marginally shed 0.2 per cent or 7 Kobo to settle at N1,609.64/$1, in contrast to the preceding day’s N1,609.57/$1. Also, the Nigerian Naira traded flat against the Pound Sterling […]