The Minister of Finance, Wale Edun, has announced that the Nigerian government has begun the Naira-for-crude sale deal with Dangote Refinery from October 1, 2024. The minister disclosed this in a statement released on the official X account of the Ministry of Finance on Saturday.
According to Edun, the commencement was inline with in line with the Federal Executive Council, FEC directive. He said that stakeholders held a meeting on October 3rd, 2024 to review the implementation of the deal. 'The Hon. Minister of Finance and Coordinating Minister of the Economy announced that, in line with the Federal Executive Council directive, the sale of crude oil and refined petroleum products in Naira has officially commenced as of October 1st, 2024.
Minister of State, Petroleum , the Special Adviser to the President on Revenue, the Special Adviser to the President on Energy, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority , the representative of the Chairman of Dangote Group, the Vice President of Dangote Group, and the management of the Nigerian National Petroleum Company , led by the Group Chief Executive Officer , Chief Financial Officer , and Executive Vice President '.
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