Sani Musa Praises Tinubu For Directing NNPC To Sell Crude To Dangote In Naira

Chairman of the Senate Committee on Finance, Senator Sani Musa, has applauded President Bola Tinubu for instructing the Nigerian National Petroleum Company Limited (NNPCL) to sell crude oil to the Dangote Refinery in Naira.

In a statement released on Tuesday, Senator Musa emphasized that the Federal Government’s decision to facilitate this Naira-based transaction with Dangote Refinery represents a strategic shift toward enhancing Nigeria’s economic self-sufficiency and stability.

Senator Musa praised President Tinubu for demonstrating a strong commitment to national growth, supporting local industries, and ensuring that the wealth generated from Nigeria’s natural resources directly benefits the country’s economy.

He further noted that this policy provides a valuable opportunity for NNPCL, Dangote Refinery, and other domestic producers to optimize their business strategies, making production more affordable, sustainable, and of higher quality for the nation’s benefit.

Senator Musa’s statement reads: “I would like to commend Mr. President Bola Ahmed Tinubu, GCFR for his forward-thinking and impactful decision to approve the sale of crude oil to local refineries in Nigeria using Naira. This strategic move is a significant milestone in our nation’s journey towards economic self-sufficiency and stability.

“By allowing transactions in our local currency, this policy not only strengthens the Naira but also reduces our dependency on foreign exchange. This will likely lead to increased efficiency within our local refineries, boosting domestic production and ensuring a more consistent and affordable supply of refined petroleum products for all Nigerians.

“I hope by this gesture will enable the NNPCL, Dangote Refinery and all domestic producers take advantage of this opportunity to make their business decisions towards making production more affordable, sustainable and qualitative for the good of the country.

“This decision reflects a deep commitment to fostering national growth, supporting local industries, and ensuring that the wealth generated from our natural resources benefits our economy directly. It is a testament to Mr. President’s visionary leadership and dedication to the prosperity of our country.

“I applaud this initiative and look forward to witnessing the positive impact it will undoubtedly have on our nation’s economic landscape.

“Thank you, Mr. President, for your continued efforts to advance Nigeria’s economic independence and development.”