Economic Devt: Tinubu Meets Crude Oil/ Products Sales In Naira C’ttee

President Bola Tinubu yesterday met with members of the Crude Oil and Refined Products Sales in Local Currency Implementation Committee to review the initiative at the Presidential Villa.

The committee was led by the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, to the State House.

Those at the meeting included the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC Ltd), Mele Kyari; the Chairman of the Federal Inland Revenue Service (FIRS), Zach Adedeji, and the Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso.

Also present were the Authority’s Chief Executive (ACE) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mallam Farouk Ahmed; the Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe; as well as the President of Dangote Group, Alhaji Aliko Dangote.

Briefing journalists after the meeting, Edun said the government had begun the sale of crude to Dangote and other local refineries in naira adding that the implementation committee and the sub-committee have worked assiduously with all stakeholders, including the regulators, NDPRA, NUPRC, NIMASA, NNPC, NPA the Navy.

According to him, the implementation of the initiative has made it possible for the country to have market pricing for petroleum products.