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Breaking: Naira-for-Crude Initiative Remains in Effect, Says FG
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The Federal Government has reaffirmed that its naira-for-crude initiative with local refineries is still in effect, contradicting the decision made by the Nigerian National Petroleum Company Limited (NNPCL) under former boss Mele Kyari.
The government considers this initiative a “key policy directive designed to support sustainable local refining”.
The initiative will continue immediately, ensuring local refineries can purchase crude oil in naira.
According to CHANNELS, the Minister of Finance Wale Edun met with Dangote Refinery representatives, reaffirming the initiative’s continuity.
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