President Bola Ahmed Tinubu recently met with members of the committee responsible for implementing the sale of crude oil and refined products in local currency. This committee, led by Finance Minister Wale Edun, includes key stakeholders from various sectors, such as Alhaji Aliko Dangote, President of the Dangote Group; Mele Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL); Dr. Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS); and Yemi Cardoso, Governor of the Central Bank of Nigeria (CBN).
Also present were Mallam Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and Mr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The meeting focused on the progress of selling crude to local refineries in naira, an initiative made possible by Dangote’s significant investment in the Dangote Refinery.