• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, July 28, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Federal Gov’t Begins Sale Of Crude Oil To Dangote, Others In October  

by Mark Itsibor and Leadership News
11 months ago
in Business
Dangote Refinery

Dangote Refinery

Share on WhatsAppShare on FacebookShare on XTelegram

Minister of finance and coordinating minister of the Nigerian economy, Wale Edun, has said the federal government would commence sale of crude oil to Dangote and other local refineries in Naira from October 1, 2024.

Advertisement

The minister made disclosure on Monday at the second meeting of the implementation committee meeting on the transition to crude oil Sales in Naira that was established by President Bola Tinubu.

“The meeting reviewed progress on key initiatives, including the upcoming commencement of Naira payments for crude oil sales to the Dangote Refinery starting October 1, 2024,” the finance ministry said in a statement posted on its verified X handle.

The statement said updates on the Port Harcourt and Dangote Refineries were also provided, with significant production increases expected from November 2024. It, however, failed to state when the Port Harcourt refinery would begin operations.

 

RELATED

BAT Nigeria Calls For Export Reforms To Boost Economic Growth

BAT Nigeria Calls For Export Reforms To Boost Economic Growth

51 minutes ago
nigeria, flag

Cross-border Ticket Sales Shrink Domestic Travel Market By 40%

54 minutes ago

The Nigerian National Petroleum Corpany Limited (NNPCL) has postponed the operationalisation of the refinery for the sixth time since Mele Kyari took office as GMD of the government owned firm.

 

Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, who is also the chairman of the technical sub-committee, reported that the first PMS delivery to Dangote is expected next month under existing agreements.

 

The Nigerian authorities had approved that the 450,000 barrels meant for domestic consumption in the oil sector regulatory PIA be offered in Naira to Nigerian refineries, with Dangote refinery as a pilot. The aim is to cut the demand for dollar with a focus on reducing the current high rate of gasoline.

 

According to the brief note of the meeting that was posted online, key roles were outlined for stakeholders, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Central Bank of Nigeria (CBN), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the African Export-Import Bank to ensure smooth implementation.

 

The Minister emphasised the need for transparency and directed the Technical Sub-Committee to finalize details and prepare a report for the President, confirming that his directives are on track for implementation from September.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




Tags: Crude OilDangote Refinery
SendShareTweetShare
Previous Post

Edo Guber: INEC Begins PVCs Distribution Thursday

Next Post

PICTORIAL: Navy Uncovers Massive Illegal Refinery In Rivers

Mark Itsibor and Leadership News

Mark Itsibor and Leadership News

You May Like

BAT Nigeria Calls For Export Reforms To Boost Economic Growth
Business

BAT Nigeria Calls For Export Reforms To Boost Economic Growth

2025/07/28
nigeria, flag
Business

Cross-border Ticket Sales Shrink Domestic Travel Market By 40%

2025/07/28
Nigerians Groan As SIM Registration, Swap Halted Over NIMC System Migration
Business

NIMC Cautions Against Selling, Sharing Personal, NIN Data To Fraudsters

2025/07/27
Eterna Plc Reports Strong FY 2024 Performance
Business

Eterna Plc Reports Strong FY 2024 Performance

2025/07/27
Shettima To Represent Nigeria At 2nd UN Food Systems Summit In Addis Ababa
Business

Shettima To Represent Nigeria At 2nd UN Food Systems Summit In Addis Ababa

2025/07/27
ASIS 4.0: Stakeholders Pledge Collaboration To Unlock Africa’s Potential
Business

ASIS 4.0: Stakeholders Pledge Collaboration To Unlock Africa’s Potential

2025/07/27
Leadership Conference advertisement

LATEST

NAF Airstrikes Kill ISWAP Commanders, Fighters In Borno

We Never Gave Up Against Morocco, Says Falcons Coach

Team Nigeria’s Athletes Urged To Embrace Local Cuisine At Africa Schools’ Games In Algeria

Nigeria Shines At 2025 African Karate Championship, Praised For Excellence, Hospitality

Taekwondo: Nigeria’s Medal Hopeful Kalu Misses World FISU Games In Germany

Infantino Hails Inauguration Of FIFA Major Africa Office In Rabat

WAFCON: Okonjo-Iweala Hails Falcons’ Victory Against Morocco

Abuja Residents To View WAFCON Trophy As Tinubu Hosts Victorious Falcons Today

Charly Boy Berates Lagos LG For Renaming Bus Stop After Olamide

Dangote Says FG’s Policies Have Stabilised Naira-To-Dollar Exchange Rate

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.