In Abuja this afternoon, Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, announced that Naira crude oil sales will commence on October 1.
This disclosure came during a review meeting of the Implementation Committee tasked with developing the framework for executing President Bola Tinubu’s directive on the Naira crude sale. The committee, which began its discussions last week, includes high-ranking officials from the Nigerian National Petroleum Company Limited (NNPCL), the Central Bank of Nigeria, the Federal Inland Revenue Service, and the Ministry of Finance, represented by Permanent Secretary Mrs. Lydia Jafiya.
Additionally, the committee features representatives from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the Nigerian Upstream Petroleum Regulatory Commission, and the African Export-Import Bank, which is involved in a futures crude oil sale agreement with NNPCL.
