The Federal Government has clarified that its naira-for-crude initiative with domestic refineries is not a temporary solution, but rather a “key policy directive aimed at promoting sustainable local refining.”
The government affirmed that the initiative is currently active and will persist, reversing the previous decision made by the NNPCL under its former head, Mele Kyari, which had effectively ended the initiative.
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During a meeting on Tuesday with representatives from the Dangote Refinery, Finance Minister Wale Edun stated that the naira-for-crude program remains in operation.
More details to follow…