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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, […]

FG Insists Naira-for-Crude Policy Still Active, Defies NNPCL’s Expiry Claim

The Federal Government has reiterated that its Naira-for-crude oil initiative remains in force and is a long-term policy, not a temporary arrangement. The move is aimed at fostering sustainable local refining and reducing the country’s reliance on foreign exchange in the oil sector. This clarification comes amid reports suggesting the Nigerian National Petroleum Company Limited […]

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