The federal government has announced that the sales of crude and refined product sales in Naira will continue as the initiative remains a national policy.
Per the announcement, the policy will stay in place as long as it serves the public interest and supports the country’s broader economic goals.
The update was shared on the official X account of the Federal Ministry of Finance on Wednesday morning.
The Ministry added that the initiative is a long-term strategic directive and not a short-term or provisional measure.
It was also revealed that stakeholders have reconvened to reiterate their full support and ongoing commitment to ensuring the successful implementation of the policy.
“The Crude and Refined Product Sales in Naira initiative is not a temporary or time-bound intervention, but a key policy directive designed to support sustainable local refining, bolster energy security, and reduce reliance on foreign exchange in the domestic petroleum market.
“As with any major policy shift, the Committee acknowledges that implementation challenges may arise from time to time.
“However, such issues are being actively addressed through coordinated efforts among all parties,” the statement said.
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