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FG Commences Crude Oil Sales in Naira, Targets Economic Growth

FG Commences Crude Oil Sales in Naira, Targets Economic Growth

Nnaemeka OkwarabyNnaemeka Okwara
2 years ago
in News
Reading Time: 1 min read
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The Nigerian government has commenced the sale of  crude oil using the Naira currency, starting from October 1, 2024, according to Finance Minister Wale Edun.

This development comes after President Bola Tinubu ordered that crude oil be sold to Dangote and other refiners in Naira, with the goal of lowering petrol prices and alleviating the dollar’s impact.

According to Edun, “Nigeria has officially begun selling crude oil and refined petroleum products in Naira, following the Federal Executive Council’s order.”

The plan aims to boost economic growth, stability, and self-reliance, especially given the uncertainties in the global market.

Edun added, “This strategic decision sets Nigeria up for success in the future.”

The Implementation Committee, led by Edun, reviewed the start of this new initiative and confirmed its successful launch.

Tags: crude oilfederal characterFG Commences Crude Oil Sales in NairagovernmentNairaNewsTargets Economic Growth
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Nnaemeka Okwara

Nnaemeka Okwara

Okwara Nnaemeka Emmanuel is a skilled wordsmith, passionate blogger, and content writer with a degree in Media Content, He has made a significant mark in the industry. He also holds certification in Marketing and advertising. He has honed a unique blend of creativity and strategic thinking. Driven by a belief in the power of creativity, He has established a niche for himself in diverse regions, leaving a trail of successful projects and satisfied clients. His ability to craft compelling narratives and engage audiences sets him apart in the competitive world of content creation. As a dedicated professional, He continues to push boundaries and set new landmarks in their field. Whether it's through captivating blog posts, persuasive copywriting, or innovative content strategies, Nnaemeka’s consistently delivers excellence, leaving a long lasting impact

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