Tinubu Meets Implementation Committee On Crude Oil/Products Sales In Naira

.Edun, Dangote, Kyari, Cardoso in attendance

Deji Elumoye in Abuja

President Bola Tinubu is meeting with members of the crude oil and refined products sales in local currency implementation committee at the State House, Abuja.

The committee was led to the meeting by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun.

Those attending the meeting include the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mr Mele Kyari; the Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji; and the Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso.

Also in attendance are the Authority’s Chief Executive (ACE) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mallam Farouk Ahmed; the Commission’s Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe; as well as the President of Dangote Group, Alhaji Aliko Dangote.

The ongoing meeting was scheduled for the committee to brief President Tinubu on the progress of the arrangement, which was improvised by the Tinubu administration to relieve foreign exchange pressure on the economy.

President Tinubu had directed the NNPCL to commence sales of crude oil to Dangote Refinery and other local refiners on July 29 this year.

Details of briefings by the committee to the President are not available yet, however, it is believed President Tinubu aims to keep abreast of developments in the oil industry.

Details later…