The Chairman of the Senate Committee on Finance, Senator Sani Musa, has hailed President Bola Ahmed Tinubu’s decision to allow the sale of crude oil to local refineries in Nigeria using Naira, adding that it would have a positive impact on the citizenry and the nation’s economy.
This move is expected to boost domestic production, ensuring a consistent and affordable supply of refined petroleum products for Nigerians.
He made this disclosure during an interview on Wednesday in Kano, adding that the move is seen as a significant step towards economic self-sufficiency and stability.
Senator Musa applauds this initiative and looks forward to its positive impact on Nigeria’s economic landscape.
According to him, “This decision will enable the NNPC, Dangote Refinery, and other domestic producers to take advantage of the opportunity to make their business decisions more affordable, sustainable, and qualitative for the country’s benefit.”
He added that, “By conducting transactions in the local currency, the policy strengthens the Naira, reduces dependence on foreign exchange, and increases efficiency in local refineries.”
The decision reflects President Tinubu’s commitment to fostering national growth, supporting local industries, and ensuring that the wealth generated from natural resources benefits the economy directly.
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