• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, August 1, 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

FG Reviews Progress On Naira-for-Crude Policy

by Mark Itsibor
3 months ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

The federal government has reaffirmed its commitment to advance the crude and refined products sales in naira initiative (popularly known as naira-for-crude) as part of broader efforts to stabilise the naira, boost domestic refining and enhance energy security.

Advertisement

This followed a follow-up meeting of the technical sub-committee on the initiative held in Abuja on Thursday under the chairmanship of the minister of finance and coordinating minister of the economy, Mr. Wale Edun.

The meeting reviewed implementation milestones and noted significant progress since the last engagement, according to a statement issued by Mohammed Manga, the director of information and public relations at the Ministry of Finance.

The session was attended by key government and industry stakeholders, including the Executive Chairman of the Federal Inland Revenue Service (FIRS) and Chairman of the Technical Sub-Committee,

Mr. Zacch Adedeji; Special Adviser to the President on Energy, Ms. Olu Verheijen; senior officials from the Nigerian National Petroleum Company Limited (NNPCL) as well as representatives of local refining operators and regulatory bodies such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Ports Authority (NPA).

RELATED

NSC Holds Maritime Seminar For Judges

Shippers’ Council Blocks Questionable N52bn Forex Repatriation, Resolves N2bn Trade Disputes

6 hours ago
Mixed Performance On Equities Expected This Week

Stock Market Investors Gain N12.47trn In July

6 hours ago

The policy, which forms a core pillar of President Bola Tinubu’s economic reform agenda, aims to transition crude oil and refined petroleum product transactions—particularly within the domestic market—from dollar-denominated sales to Naira, in order to conserve foreign exchange, deepen local market operations, and stimulate value addition across the petroleum sector.

Stakeholders at the meeting restated their collective resolve to ensure the smooth and effective implementation of the initiative, which they described as a bold and necessary step toward reinforcing Nigeria’s monetary sovereignty and energy self-sufficiency.

Edun commended the ongoing collaboration among agencies and partners, noting that such inter-agency coordination is essential to driving reforms that will deliver long-term macroeconomic stability. He pledged that the government would continue to provide updates as the policy advances through further phases of implementation.

The initiative, first introduced in early 2024, has gained momentum in recent months with growing support from both the public and private sectors. It is widely seen as a strategic move to reduce pressure on the foreign exchange market, incentivise domestic refining, and strengthen the Naira amid Nigeria’s broader economic recovery efforts.


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




SendShareTweetShare
Previous Post

Ways To Identify Illegal Investments

Next Post

Our Struggle Is To Salvage Nigeria –NLC President

Mark Itsibor

Mark Itsibor

Mark Itsibor is a journalist and communication specialist with 10 years of experience, He is currently Chief Correspondent at LEADERSHIP Media Group and writes on Finance, Economy, Politics, Crime, and Judiciary. He has a B.Sc in Political Science, Post Graduate Diploma in Journalism (Print), and B.A in Development Communication. His Twitter handle is @Itsibor_M

You May Like

NSC Holds Maritime Seminar For Judges
Business

Shippers’ Council Blocks Questionable N52bn Forex Repatriation, Resolves N2bn Trade Disputes

2025/08/01
Mixed Performance On Equities Expected This Week
Business

Stock Market Investors Gain N12.47trn In July

2025/08/01
Disruptions Loom In Oil, Gas Sector Over Helicopter Landing Fee
Business

NAMA Conducts Simulation Exercise For Air Emergency Response At Abuja Airport

2025/08/01
Nigerians Groan As SIM Registration, Swap Halted Over NIMC System Migration
Business

SIM Registration: Telcos Resume NIN Verification Services For Subscribers

2025/08/01
NASD Elects Olayimikah Bolo As Chairman
Business

NASD Elects Olayimikah Bolo As Chairman

2025/08/01
MTN Allots Incentive Shares, As Trading Opens With N4bn Loss
Business

MTN Nigeria Adopts Customer-Centric Approach For Growth

2025/08/01
Leadership Conference advertisement

LATEST

Percy Jackson, Olympians Second Season To Premiere December 10

PAWA’s New Executive Council Prioritises Marginalised Literature, Intercontinental Literacy, Dialogue

Sokoto Assembly Summons Commissioner Over Absence During Oversight Visit

Northern CAN Condemns Benue Killings, Pledges Sustained Advocacy

Jailed Ex-South Korean President Yoon Pulls Off Prison Dress To Avoid Questioning

Sea Pirate Sentenced To Death For Killing Policeman, Others In Akwa Ibom

JUST-IN: Health Minister Meets Striking Nurses As Strike Enters Day 3

Again, Fintiri Increases Corps Members’ Allowance To N30,000

NMA Advocates Law To Ban Gas Outlets In Residential Areas

Exam Malpractices Compromise Education Quality, Shortchange Brilliant Students — Don

© 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.