The Chairman of the Technical Sub-Committee on Naira-for-Crude Policy, Zacch A. Adedeji, PhD, has reaffirmed that the Naira-based crude sales framework remains intact.
Policy Continuity: The initiative ensures crude supply stability for domestic refining and supports the economy. There are no plans to discontinue it.
Local Refinery Access: All local refineries remain eligible for crude supply under structured agreements, with NUPRC ensuring compliance with the Petroleum Industry Act.
Market Efficiency: The framework promotes competitive pricing and efficiency in the domestic crude market.
Ongoing Implementation: The committee remains committed to enhancing local refining, reducing forex exposure, and stabilizing fuel supply.
