A statement from the Ministry of Finance on Saturday said the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced implementation of the initiative approved by the Federal Executive Council (FEC) started on October 1, 2024.
Speaking after a post-commencement review meeting, Edun disclosed key stakeholders assured of the commencement of the strategic initiative.
The review meeting was held to assess the progress of the “Crude oil and refined products sales in Naira” initiative and the consensus reached highlighted the government’s commitment to seeing the plan through.
“The sale of crude oil and refined products in Naira has officially begun as directed by the Federal Executive Council. This initiative marks a bold step towards economic sustainability and currency stability,” Edun stated.
