• About Us
  • Contact Us
  • Privacy & Policy
Wednesday, September 10, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

Finance Minister Holds Meeting with Mele Kyari, Other Stakeholders Over Naira Crude Oil Sales

Content Team by Content Team
August 13, 2024
in Economy
Reading Time: 3 mins read
A A
0
Finance Minister Holds Meeting with Mele Kyari, Other Stakeholders Over Naira Crude Oil Sales
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram

The Honorable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, is spearheading a high-level stakeholder meeting to implement an exciting new directive from President Bola Tinubu.

The directive calls for the Nigerian National Petroleum Corporation Limited (NNPCL) to sell crude oil to local refineries in Naira, a move that is poised to strengthen Nigeria’s domestic economy and support the sustainable operations of these vital local industries, including the Dangote Refinery.

On Monday, the Minister convened a meeting with key players, including the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, the Group Chief Executive Officer of NNPCL, Mele Kyari, the Executive Chairman of the Federal Inland Revenue Service, Dr. Zacch Adedeji, and the Permanent Secretary of the Ministry of Finance, Mrs. Lydia Jafiya.

This meeting is a clear testament to the government’s unwavering commitment to driving economic progress and empowering domestic industries. The ministry’s official X (formerly Twitter) page shared the news, highlighting the enthusiasm and optimism surrounding this initiative.

This transformative move is set to boost the domestic economy and provide unwavering support for the sustainable operations of local refineries, delivering a win-win scenario for businesses and the Nigerian people alike.

Overall, the energy and positivity radiating from this meeting are truly inspiring, as the government takes decisive steps to strengthen Nigeria’s economic foundation and unlock new opportunities for growth and prosperity.

Screenshot

The meeting was marked by a sense of optimism and collaboration as key stakeholders in the petroleum and finance sectors gathered to discuss the President’s directive. Minister of State for Petroleum Heineken Lokpobiri, NNPCL Group Chief Executive Officer Mele Kyari, Federal Inland Revenue Service Executive Chairman Dr. Zacch Adedeji, and Ministry of Finance Permanent Secretary Mrs. Lydia Jafiya were among the notable participants. During the in-depth discussions, the Finance Minister expressed a strong and infectious confidence in the ability of all stakeholders to work together effectively to achieve the directive’s objectives.

Recall that on July 29th, President Bola Tinubu issued a directive for the Nigerian National Petroleum Company Limited to sell crude oil to Dangote Refinery and other upcoming refineries in Naira. This move was met with great enthusiasm, as it was seen as a significant step towards ensuring the stability of the pump price of refined fuel and the dollar-naira exchange rate. The Federal Executive Council’s approval to offer the 450,000 barrels meant for domestic consumption in Naira to Nigerian refineries, using the Dangote refinery as a pilot, was hailed as a positive and proactive decision.

Findings show that Dangote Refinery, which has been facing a crude oil supply crisis with the International Oil Companies operating in Nigeria, will now receive a commitment from NNPC to supply four out of the 15 cargoes of crude it requires yearly, amounting to $13.5 billion.

The meeting was filled with a sense of excitement and optimism as the stakeholders collaborated to find solutions that would benefit the nation’s economy and its citizens. The participants expressed their eagerness to work together towards the successful implementation of the President’s directive, confident that these efforts would lead to tangible and positive outcomes for the petroleum sector and the country as a whole.

Tags: business
Content Team

Content Team

Steven Atogi is Editor-in-chief at Umpire News. Formerly Editor-in-chief at DreamsNG Magazine. A skilled editor, writer and researcher with over a decade experience in politics, economy, sports and entertainment news editing; feature writing, copywriting and digital news sourcing. He has published in traditional and new media across local and international media outlets. He is keen on public policy, politics, economy, and social justice themes.

Related Posts

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation
Economy

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation

2 weeks ago
FG launches initiative to cut overhead cost
Economy

FG launches initiative to cut overhead cost

3 weeks ago
Grant tax relief to media houses —Ex-NNPCL spokesman tells FG
Economy

Grant tax relief to media houses —Ex-NNPCL spokesman tells FG

3 weeks ago
Rice farmers blame middlemen for continuous price hike
Economy

Rice farmers blame middlemen for continuous price hike

3 weeks ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

Ex-NAPAC chairman to Natasha: Prove sexual harassment claim or resign from Senate
National

Senate Bars Natasha Akpoti from Resuming Despite Suspension Elapsing

5 hours ago
We need N3trn to complete NNPCL-funded road projects — Umahi
National

We need N3trn to complete NNPCL-funded road projects — Umahi

6 hours ago
FG, NUPENG, Dangote meeting ends in deadlock
National

NUPENG suspends strike as Dangote agrees to unionisation of workers

6 hours ago
2027: New applications for political parties’ registration now at 144 — INEC
National

INEC announces 3.5 million online pre-registration in ongoing CVR

1 day ago
Peter Obi, El-Rufai Granted Waiver Ahead 2027 Election
National

Update: ADC sets up disciplinary committee to resolve Abia leadership crisis

1 day ago
Tinubu may borrow from Moniepoint, Opay next – Dino Melaye
National

Tinubu may borrow from Moniepoint, Opay next – Dino Melaye

1 day ago

POLITICS

Peter Obi Can Return to PDP Without Wike Obstruction – Jacob Mark

Oyo PDP blasts APC protest over Makinde’s N300bn loan approval

5 hours ago
More governors set to defect to APC – Yilwatda

More governors set to defect to APC – Yilwatda

5 hours ago
Peter Obi, El-Rufai Granted Waiver Ahead 2027 Election

Update: ADC sets up disciplinary committee to resolve Abia leadership crisis

1 day ago
APC acting like terrorist organisation, says ADC over Lagos attack

APC acting like terrorist organisation, says ADC over Lagos attack

2 days ago
Breaking News: APC National Chairman Ganduje Resigns

Ganduje Denies Defection to ADC, Reaffirms APC Loyalty

3 days ago
Peter Obi Can Return to PDP Without Wike Obstruction – Jacob Mark

Nigeria slipping into full-blown dictatorship — PDP governors

4 days ago

YOUR ECONOMY

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation
Economy

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation

2 weeks ago
FG launches initiative to cut overhead cost
Economy

FG launches initiative to cut overhead cost

3 weeks ago
Grant tax relief to media houses —Ex-NNPCL spokesman tells FG
Economy

Grant tax relief to media houses —Ex-NNPCL spokesman tells FG

3 weeks ago
Rice farmers blame middlemen for continuous price hike
Economy

Rice farmers blame middlemen for continuous price hike

3 weeks ago
Naira appreciates against dollar on the weekend
Economy

Naira appreciates against dollar on the weekend

4 weeks ago
Largest shea butter refinery in Africa begins operation in Niger State
Economy

Largest shea butter refinery in Africa begins operation in Niger State

1 month ago

E & P

Lookman Wins Atalanta Player of the Month of September 2024
Sports

Siasia to Chelle: Rely on Lookman, Arokodare

by Steven Atogi
1 day ago
0

Former Nigeria coach, Samson Siasia has advised Super Eagles manager Eric Chelle to maximise Ademola Lookman’s set-piece ability and Tolu...

Chelsea Push £78m Fermin Lopez Transfer Bid

Chelsea Push £78m Fermin Lopez Transfer Bid

2 weeks ago
The Rise And Fall Of Sports Institute, Isaka

The Rise And Fall Of Sports Institute, Isaka

2 weeks ago
KTF Launches Free Youth Tennis Clinic in Port Harcourt

KTF Launches Free Youth Tennis Clinic in Port Harcourt

3 weeks ago
‘It’s a shame’ – Ex-Newcastle striker, Andy Carroll blasts Isak over transfer move

‘It’s a shame’ – Ex-Newcastle striker, Andy Carroll blasts Isak over transfer move

4 weeks ago
NPFL Suspends S’Eagles Goalkeeper Over Betting Allegations

NPFL Suspends S’Eagles Goalkeeper Over Betting Allegations

1 month ago

YOUR THOUGHT & HISTORY

HOW MR EAZI, OTEDOLA’S SON-IN-LAW, BUILT AN 18-COUNTRY EMPIRE
Opinion

HOW MR EAZI, OTEDOLA’S SON-IN-LAW, BUILT AN 18-COUNTRY EMPIRE

by Odini Brains
3 days ago
Mr Eazi and Temi Otedola: A Love Story That Traveled Three Continents
National

Mr Eazi and Temi Otedola: A Love Story That Traveled Three Continents

by Odini Brains
3 days ago
The Rise And Fall Of Sports Institute, Isaka
Columns

The Rise And Fall Of Sports Institute, Isaka

by Tammy Opoki
2 weeks ago
Tribute to Old Port Harcourt Boy (Peter Rufai)
Columns

Tribute to Old Port Harcourt Boy (Peter Rufai)

by Tammy Opoki
2 months ago
A Democracy Strained: Buhari’s Human Rights Record and the Repression of Dissent
Columns

A Democracy Strained: Buhari’s Human Rights Record and the Repression of Dissent

by Odini Brains
2 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Trends

Recent News

Ex-NAPAC chairman to Natasha: Prove sexual harassment claim or resign from Senate

Senate Bars Natasha Akpoti from Resuming Despite Suspension Elapsing

September 10, 2025
Peter Obi Can Return to PDP Without Wike Obstruction – Jacob Mark

Oyo PDP blasts APC protest over Makinde’s N300bn loan approval

September 10, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address