Energy Group Hails Return Of Naira-for-Crude Policy

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 will benefit local refineries and the broader Nigerian populace.

In a statement, 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 Nigerians who have long borne the burden of an import-dependent energy system.

Dr Godknows Manager, national president of EJF, described the decision as “the most patriotic intervention in Nigeria’s petroleum sector in recent history,” while urging the newly appointed leadership of the Nigerian National Petroleum Company Limited (NNPCL) to align with the president’s reformist path.

“We must be clear — this policy is not about Dangote alone. It is about returning value to Nigerians, enabling refineries in Warri, Port Harcourt, and Kaduna to thrive, and ensuring that Nigerians are not perpetually held hostage to dollar-denominated fuel pricing,” Manager said.

“President Tinubu has restored dignity to our economic sovereignty. For the first time in a long time, the average Nigerian sees a glimpse of hope that our natural resources may finally work in our favour.”

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The group also cautioned the new NNPCL Group Chief Executive Officer, Bayo Ojulari, and board chairman, Pius Akinyelure, urging them not to inherit what it called “the dubious, dollar-chasing reforms” of the former GCEO, Mele Kyari.

Manager further encouraged the new board to strengthen collaborations with indigenous investors and local engineers to ensure that Nigeria’s refining ambitions are realised.

“We cannot build a sustainable energy future on the back of secrecy and elitist policies. This is a new dawn. The new NNPCL must walk in light, not shadows,” he added.