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Back on Track: FG Revives Naira-for-Crude to Boost Local Refining

The Federal Executive Council (FEC) has ordered the immediate and full implementation of the Naira-for-Crude initiative, reaffirming it as a strategic policy directive to support local refining and reduce foreign exchange dependence. The initiative, which had been suspended under the previous leadership of the Nigerian National Petroleum Company Limited (NNPCL), is now back in effect, […]

NNPC Still Open to Crude Supply in Naira to Dangote Refinery, Others

The Nigerian National Petroleum Company Limited (NNPCL) has responded to reports regarding the alleged unilateral termination of a crude oil sales agreement in Naira with Dangote Refinery, insisting that it was still open to continue the arrangement on mutually beneficial terms. In a statement on Monday, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, clarified that […]

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