The federal government has said the sale of crude oil to Dangote Refinery and other Nigerian refineries in Naira will start on October 1, this year.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, disclosed this in Abuja, this afternoon, at the review meeting of the Implementation Committee set up to work out the modalities for actualising President Bola Tinubu’s directive on the Naira Crude sale.
The committee which started meeting last week consisted of top officials of the Nigerian National Petroleum Company Limited (NNPCL), Central Bank of Nigeria, Federal Inland Revenue Service, the Permanent Secretary of the Ministry of Finance, Mrs. Lydia Jafiya.
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Others were representatives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Nigerian Upstream Petroleum Regulatory Commission and the African Export-Import Bank which was involved in a futures crude oil sale arrangement with the NNPCL