The FG has announced that the loading of the first batch of PMS from the Dangote Refinery will commence on Sunday, 15th September.
“I am glad to announce that all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday 15th September” – Chairman Federal Inland Revenue Service (FIRS) Dr Zacch Adedeji
Nigeria Makes Significant Progress in Achieving Energy Independence: Sales of Crude Oil Purchases in Naira Begin.
In a significant effort to alleviate pressure on the Naira, minimize unnecessary transaction costs, and enhance the accessibility of petroleum products, the Federal Government has successfully commenced the sale of crude oil to local refineries, along with the corresponding acquisition of petroleum products in Naira.
Mr. Wale Edun, the Honourable Minister of Finance and Coordinating Minister of the Economy, shared this information shortly after the Technical Sub-Committee meeting focused on selling crude oil to local refineries in Naira.
The Minister finance represented by Zacch Adedeji, the Chairman of Federal Inland Revenue Service (FIRS), has announced that all agreements and arrangements for the implementation of the Federal Executive Council’s (FEC) approval regarding the sale of crude oil to local refineries in Naira, as well as the corresponding purchase of petroleum products in Naira, have been finalized.
He said, “Recall that the FEC under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira.
“This initiative will help reduce pressure on the Naira, eliminate unnecessary transaction costs, and improve availability of petroleum products in the country.
