• About Us
  • Contact Us
  • Privacy & Policy
Thursday, July 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

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion
Economy

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion

2 weeks ago
IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s
Economy

IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s

3 weeks ago
Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments
Economy

Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments

3 weeks ago
PETROAN kicks against Dangote’s petrol distribution strategy
Economy

PETROAN kicks against Dangote’s petrol distribution strategy

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

Edo election: I can’t pretend what Supreme Court delivered is justice — Ighodalo
National

Edo election: I can’t pretend what Supreme Court delivered is justice — Ighodalo

6 hours ago
Ukraine’s drone strike hits Russian airbase targets
National

Security operatives neutralise 30 bandits in Katsina counter-attack

16 hours ago
Constituency Allowance: Legislative Member Rekindles Debate,  Admits Senators, House Members Receives N2b, N1b
National

Senate to criminalise electricity infrastructure vandalism and curb sabotage

16 hours ago
Ribadu Warns of Money Laundering, Drug Trafficking via Illegal Charter Operators
National

Nigeria is safer, better under Tinubu administration — NSA Ribadu

16 hours ago
Oyo Approves ₦7.7 Billion for Aircraft to Combat Banditry and Kidnapping
National

Oyo Approves ₦7.7 Billion for Aircraft to Combat Banditry and Kidnapping

1 day ago
FG to provide electricity to 300 million unserved people  — Adelabu
National

FG to provide electricity to 300 million unserved people  — Adelabu

2 days ago

POLITICS

ADC, APC woo Kwankwaso  ahead of 2027 elections

ADC, APC woo Kwankwaso  ahead of 2027 elections

2 days ago
Coalition’s ADC will collapse in 6 months — Daniel Bwala

Coalition’s ADC will collapse in 6 months — Daniel Bwala

2 days ago
Will the opposition coalition bring back fuel subsidy?  — Katsina Governor Radda

Will the opposition coalition bring back fuel subsidy?  — Katsina Governor Radda

2 days ago
PDP BoT member, Waziri, former Katsina PDP chairman, Uli, joins coalition’s ADC

PDP BoT member, Waziri, former Katsina PDP chairman, Uli, joins coalition’s ADC

3 days ago
Coalition’s ADC takes over of PDP structures in North East

2027 election: Presidency scheming to destroy our party — ADC alarms

3 days ago
Keyamo Praises Governor Mbah, Urges Professionalism in Enugu Air Launch

Keyamo Praises Governor Mbah, Urges Professionalism in Enugu Air Launch

3 days ago

YOUR ECONOMY

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion
Economy

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion

2 weeks ago
IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s
Economy

IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s

3 weeks ago
Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments
Economy

Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments

3 weeks ago
PETROAN kicks against Dangote’s petrol distribution strategy
Economy

PETROAN kicks against Dangote’s petrol distribution strategy

3 weeks ago
Dangote Refinery Begins Distribution of Petrol Nationwide
Economy

Dangote Refinery Begins Distribution of Petrol Nationwide

4 weeks ago
Nigeria Stock Exchange to Partner with Hong Kong’s Stock market
Economy

Nigeria Stock Exchange to Partner with Hong Kong’s Stock market

4 weeks ago

E & P

Napoli rejects Galatasaray €75m offer for Osimhen
Sports

Napoli rejects Galatasaray €75m offer for Osimhen

by Steven Atogi
6 hours ago
0

Super Eagles striker Victor Osimhen transfer drama has taken a new turn, as Napoli rejected a third bid from Turkish...

Oliseh Warns Osimhen Against Galatasaray Return, Urges Premier League Move

Oliseh Warns Osimhen Against Galatasaray Return, Urges Premier League Move

1 day ago
Just In: Osimhen agrees on personal terms with Galatasaray, rejects Al Hilal €75m bid

Just In: Osimhen agrees on personal terms with Galatasaray, rejects Al Hilal €75m bid

3 days ago
Breaking: Galatasaray submits €50m bid for Victor Osimhen

Breaking: Galatasaray submits €50m bid for Victor Osimhen

3 days ago
Chelsea Target Arsenal’s Ethan Nwaneri Amid Contract Talks

Chelsea Target Arsenal’s Ethan Nwaneri Amid Contract Talks

5 days ago
Arsenal Close In on Madueke Transfer After Agreeing Personal Terms

Arsenal Close In on Madueke Transfer After Agreeing Personal Terms

5 days ago

YOUR THOUGHT & HISTORY

El-Rufai Plans New Party as ADC Backup Against APC Interference
Columns

The Shadow Strategist: El-Rufai, the Illusion of Power, and 2027’s Looming Reckoning

by Odini Brains
4 days ago
Columns

Kidnapped, Silenced, Vindicated: The Full Impact of Kanu’s Judgment

by Odini Brains
2 weeks ago
The Emerging Kogi: Economic Growth Impact Transforming Better Reality
Columns

The Emerging Kogi: Economic Growth Impact Transforming Better Reality

by Kiikpoye Karibo
2 weeks ago
ON THE PUBLIC NUISANCE CALLED SOWORE
Opinion

ON THE PUBLIC NUISANCE CALLED SOWORE

by Kiikpoye Karibo
5 months ago
Data Visualizations
Columns

Five Key Considerations for Creating Effective Data Visualizations

by Blessing Chinyere Daniel
6 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

Edo election: I can’t pretend what Supreme Court delivered is justice — Ighodalo

Edo election: I can’t pretend what Supreme Court delivered is justice — Ighodalo

July 10, 2025
Napoli rejects Galatasaray €75m offer for Osimhen

Napoli rejects Galatasaray €75m offer for Osimhen

July 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