FG Reaffirms Long-Term Naira Sales Policy for Crude and Refined Products

FG Reaffirms Long-Term Naira Sales Policy for Crude and Refined Products

The Federal Government has reiterated its commitment to the Crude and Refined Product Sales in Naira initiative, confirming it as a long-term national policy set to continue indefinitely, provided it remains in the public's best interest and supports Nigeria’s economic objectives. 

In a statement shared through its official X (formerly Twitter) handle, the Federal Ministry of Finance emphasized that the policy, approved by the Federal Executive Council (FEC), is not a temporary measure but a strategic initiative.

The policy mandates that all crude oil and refined petroleum transactions within Nigeria be conducted in Naira instead of foreign currencies.