The technical subcommittee on the crude and refined product sales in Naira initiative has held a fresh meeting and promised to give necessary updates in due course.
According to a statement on Friday by the Director of Information and Public Relations, Ministry of Finance, Mohammed Manga, the meeting was chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
He said the meeting, held on Thursday, reviewed implementation milestones and recorded progress since the last engagement.
The statement added that the Minister has promised to provide further updates to Nigerians on the naira-for-crude deal in due course.
Edun was quoted to have commended the “continued collaboration across agencies and partners, promising to provide further updates in due course.”
Thursday’s meeting was attended by the Executive Chairman of the Federal Inland Revenue Service (FIRS), and Chairman of the technical subcommittee, Zacch Adedeji, as well as the Special Adviser to President Bola Tinubu on Energy, Olu Verheijen.
Also present at the meeting were senior representatives of the Nigerian National Petroleum Company (NNPC) Limited, local refining operators, and 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).
During the meeting, stakeholders renewed their commitment to the effective and seamless execution of the policy, “which remains a critical component of President Bola Tinubu’s broader strategy” to strengthen the naira, enhance energy security, and promote local value addition within the sector.
