The Technical Sub-Committee on Crude and Refined Product Sales in Naira initiative has reaffirmed commitment to the effective and seamless execution of the policy.
This was disclosed today at a follow-on meeting convened under the chairmanship of the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
A statement by the Director, Information and Public Relations Ministry of Finance, Mohammed Manga notes that the session which attracted stakeholders reviewed implementation milestones as it observed that notable progress has been recorded since the last engagement.
The statement adds that the minister stressed that the initiative remains a critical component of President Tinubu’s broader strategy to strengthen the Naira, enhance energy security, and promote local value addition within the sector.
Mr. Edun commended the continued collaboration across agencies and partners just as he promised to provide further updates in due course.
The meeting was attended by the Executive Chairman of the Federal Inland Revenue Service and Chairman of the Technical Sub-Committee, Mr. Zacch Adedeji; the Special Adviser to the President on Energy, Ms. Olu Verheijen; as well as senior representatives of the Nigerian National Petroleum Company Limited (NNPCL).
Others in attendance were
key regulatory institutions including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Ports Authority (NPA