Tragedy Strikes Ondo: 20 Lives Lost In Brutal Herdsmen Attack

Tragedy Strikes Ondo: 20 Lives Lost In Brutal Herdsmen Attack

The Naira-for-Crude policy remains in effect, according to the Technical Sub-Committee overseeing its implementation. The committee dismissed reports suggesting the termination of the Naira-based crude oil supply arrangement with local refineries, confirming that the initiative continues as part of the Federal Executive Council’s plan for Domestic Sales of Crude Oil and Refined Products………READ MORE

The statement emphasizes that local refineries still have access to domestic crude supplies and that the policy, which aims to stabilize supply and boost local refining, is helping to reduce foreign exchange exposure. The initiative is also designed to promote competitive pricing and market efficiency. The committee reiterated that no changes to the policy are under consideration.