UPDATED: FEC orders full implementation of naira-for-crude deal

UPDATED: FEC orders full implementation of naira-for-crude deal

The Federal Executive Council has officially directed the full implementation of the suspended Naira-for-Crude agreement with local refiners. The Ministry of Finance disclosed this on its official X handle titled “Update on the Crude and Refined Product Sales in Naira Initiative,” on Wednesday. Recall that the first phase of the six-month deal involving the Federal

Naira-for-Crude Deal: Beyond Policy, Need to Stabilise Fuel Price

The federal government’s inconsistent fuel pricing policies continue to deepen the hardship faced by ordinary Nigerians. Development Diaries reports that, according to oil marketers, Nigerians will soon heave a sigh of relief as the naira-for-crude deal is set to resume. According to media reports, the Federal Executive Council (FEC), after an initial delay, has directed the full implementation of the suspended naira-for-crude agreement with loc…

FEC Directs Full Implementation Of Naira-For-Crude Deal

The Federal Executive Council has formally ordered the full implementation of the previously suspended Naira-for-Crude agreement with local refiners. The Federal Government said the initiative is n…

FEC Directs Full Implementation of Naira-for-Crude Deal, Projects Cut in Fuel Price - Economic Confidential

FEC Directs Full Implementation of Naira-for-Crude Deal, Projects Cut in Fuel Price The Federal Executive Council, on Wednesday, directed the full implementation of the suspended Naira-for-Crude agreement with local refiners. It said the initiative with local refineries is not a temporary measure but a “key policy directive designed to support sustainable local refining.” The Ministry […] The post FEC Directs Full Implementation of Naira-for-Cru…

Naira-for-Crude Returns As FEC Declares It A Strategic Policy

The Federal Executive Council (FEC) has directed the full implementation of the suspended Naira-for-Crude agreement involving local refiners. The Naira-for-Crude deal, which includes the Federal Government, the Nigerian National Petroleum Company Limited (NNPC), Dangote Petroleum Refinery, and other indigenous refining companies, officially ended on March 31, 2025. Following the expiration and non-renewal of the agreement, […] The post Naira-for…

Naira-for-Crude Oil Deal to Continue, Says FEC

The Federal Executive Council (FEC) has directed the continuation of the naira-for-crude oil initiative beyond its initial phase, which ended on March 31. The Ministry of Finance disclosed this on its official X handle titled, “Update on the Crude and Refined Product Sales in Naira Initiative,” on Wednesday. Persecondnews reports that this decision was made during a meeting of the technical sub-committee on crude and refined product sales in nai…