CHAIRMAN Senate Committee on Finance, Senator Sani Musa, APC, Niger East has hailed President Bola Tinubu for directing the Nigerian National Petroleum Company Limited, NNPCL, to sell crude to Dangote Refinery in Naira.
In a statement he personally signed on Tuesday, Senator Musa noted that the lifeline by the Federal Government to Dangote Refinery for NNPC to sell crude to it in Naira is a strategic move that will be a significant milestone in Nigeria’s journey towards economic self-sufficiency and stability.
According to him, President Tinubu’s decision reflects what he described as a deep commitment to fostering national growth, supporting local industries, and ensuring that the wealth generated from the nation’s natural resources benefits the country’s economy directly.
He said that the action is a testament to President Tinubu’s visionary leadership and dedication to the prosperity of our country.
Senator Musa’s statement reads: “I would like to commend Mr. President Bola Ahmed Tinubu, GCFR for his forward-thinking and impactful decision to approve the sale of crude oil to local refineries in Nigeria using Naira. This strategic move is a significant milestone in our nation’s journey towards economic self-sufficiency and stability.
“By allowing transactions in our local currency, this policy not only strengthens the Naira but also reduces our dependency on foreign exchange. This will likely lead to increased efficiency within our local refineries, boosting domestic production and ensuring a more consistent and affordable supply of refined petroleum products for all Nigerians.
“I hope by this gesture will enable the NNPCL, Dangote Refinery and all domestic producers take advantage of this opportunity to make their business decisions towards making production more affordable, sustainable and qualitative for the good of the country.
“This decision reflects a deep commitment to fostering national growth, supporting local industries, and ensuring that the wealth generated from our natural resources benefits our economy directly. It is a testament to Mr. President’s visionary leadership and dedication to the prosperity of our country.
“I applaud this initiative and look forward to witnessing the positive impact it will undoubtedly have on our nation’s economic landscape.
“Thank you, Mr. President, for your continued efforts to advance Nigeria’s economic independence and development.”
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