TINUBU ASSURES OF MORE STABILITY IN THE OIL SECTOR WITH NAIRA FOR CRUDE TRANSACTIONS, URGES STAKEHOLDERS TO UPHOLD THE INTEREST OF THE NATION
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GREATRIBUNETVNEWS– President Bola Ahmed Tinubu has assured Nigerians of more stability in the oil sector, thanks to the Naira-for-crude transactions initiative. In a recent review meeting at the State House in Abuja, President Tinubu commended the Implementation Committee on Naira-based sales of crude oil and refined products, urging them to iron out any teething problems .
The President emphasized that using the Naira would eliminate exchange rate hurdles, ensuring the government doesn’t revert to old practices. He encouraged stakeholders, including the Nigerian National Petroleum Corporation Ltd and the Dangote Refinery, to collaborate and boost the economy and Nigerians’ livelihoods ¹.
*Key Highlights of President Tinubu’s Address:*
– _Removing Exchange Rate Hurdles_: The Naira-based transactions aim to simplify the oil sector’s financial dealings.
– _Collaboration for Growth_: President Tinubu urged stakeholders to work together to improve the economy and Nigerians’ quality of life.
– _Avoiding Past Mistakes_: The President cautioned against reverting to outdated practices that hindered progress in the oil sector over the last 40 years.
– _Encouraging Local Production_: He advised stakeholders to focus on meeting domestic needs and exporting refined products to make Nigeria a hub for refined products.
By promoting Naira-based transactions and stakeholder collaboration, President Tinubu aims to bring more stability and prosperity to Nigeria’s oil sector
