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Update : FG confirms continuation of crude, refined product sales in Naira initiative, Says Wale Edu
The Federal Government has confirmed the crude and refined product sales in Naira initiative remains a standing national policy and will continue indefinitely.
However, the policy will stay in place as long as it serves the public interest and supports Nigeria’s broader economic goals.
This assurance was contained in the official X (formerly Twitter) handle of the Federal Ministry of Finance on Wednesday morning amid growing inquiries on the status of the policy.
The Ministry stated the initiative, first approved by the Federal Executive Council (FEC), is a long-term strategic directive and not a short-term or provisional measure.
According to the Ministry, stakeholders have reconvened to reiterate their full support and ongoing commitment to ensuring the successful implementation of the initiative.
The policy, which mandates the transaction of crude oil and refined petroleum products in Naira, is aimed at strengthening the country’s economic sovereignty, enhancing local refining capacity, and stabilizing the foreign exchange market by reducing the demand for dollars in domestic petroleum transactions.
The Ministry explained that this policy is structured to foster energy security and encourage investment in domestic refining infrastructure.
“The Crude and Refined Product Sales in Naira initiative is not a temporary or time-bound intervention, but a key policy directive designed to support sustainable local refining, bolster energy security, and reduce reliance on foreign exchange in the domestic petroleum market,” the statement reads.
While acknowledging that the transition involves complexities, the government admitted that existing challenges are being systematically addressed.
“As with any major policy shift, the Committee acknowledges that implementation challenges may arise from time to time. However, such issues are being actively addressed through coordinated efforts among all parties,” the Ministry said.
To assess the progress made and address lingering implementation issues, the Technical Sub-Committee on the Crude and Refined Product Sales in Naira initiative held a review meeting on Tuesday. The gathering brought together key figures involved in the execution of the policy.
Among the attendees were the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who chairs the Implementation Committee; and the Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji, who heads the Technical Sub-Committee.
Also present were the Chief Financial Officer of NNPC Limited, Mr. Dapo Segun; the Coordinator of NNPC Refineries; Management of NNPC Trading; representatives from the Dangote Petroleum Refinery and Petrochemicals; and senior officials from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Central Bank of Nigeria (CBN), and the Nigerian Ports Authority (NPA). A representative from Afreximbank and the Secretary of the Committee, Hauwa Ibrahim, also attended.
This policy, which aligns with the government’s broader economic reform agenda, is expected to support local content development, ease pressure on Nigeria’s foreign reserves, and provide a more predictable pricing structure for refined petroleum products in the domestic market.
The presence of major players from both the public and private sectors at the meeting shows the scale of collaboration required to sustain the policy. It also reflects the growing confidence in Nigeria’s shift toward economic policies that prioritize local capacity and currency resilience.
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After Umrah, Tinubu Bids Farewell to Saudi Arabia, Returns to Abuja, Says Onanuga
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… Prays for Nigeria’s peace, unity, security, prosperity
… Holds farewell meeting with Makkah Deputy Governor
President Bola Ahmed Tinubu departed Saudi Arabia for Abuja on Wednesday after completing his Umrah pilgrimage in the holy city of Makkah, where he offered special prayers for Nigeria’s peace, security, unity and prosperity.
The President’s aircraft took off from the Royal Terminal of King Abdulaziz International Airport, Jeddah, at exactly 5:13 p.m. Saudi time, bringing his spiritual visit to the Kingdom to an end.
According to a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu was seen off at the airport by the Deputy Governor of Makkah Region, Prince Saud bin Mishaal bin Abdulaziz Al Saud; Nigeria’s Ambassador to Saudi Arabia, Yakubu Gambo; and the Consul-General, Ambassador Muazam Ibrahim Nayaya.
Before his departure, the President held a brief farewell meeting with the Deputy Governor of Makkah at the Royal Guest Palace within the airport.
Tinubu, who arrived in Saudi Arabia last Thursday, led members of the Nigerian delegation in performing the Umrah rites, including circumambulation of the Holy Ka’abah.
A major highlight of the pilgrimage was Sunday’s rare opportunity granted to the President and members of his delegation to enter the sacred Ka’abah, where they performed two raka’at prayers.
During the spiritual exercise, Tinubu offered supplications to Almighty Allah for enduring peace, improved security, national unity and economic prosperity, while seeking divine wisdom, guidance and strength to discharge his responsibilities to Nigerians. Nigerianews subscription
He also prayed for divine blessings upon the country, its leaders and citizens, expressing hope that Nigeria’s ethnic, religious and cultural diversity would become a source of national strength, cohesion and shared prosperity.
The President described the pilgrimage as an opportunity for spiritual reflection, thanksgiving and renewed dedication to the task of building a peaceful, united and prosperous Nigeria. Nigerianews subscription
He expressed appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and Crown Prince Mohammed bin Salman for the hospitality and special courtesies extended to him and his delegation.
Tinubu particularly acknowledged the rare privilege of accessing the Holy Ka’abah, describing the opportunity to pray within the sacred structure as spiritually significant. FollowPolitics
According to the statement, the President concluded the pilgrimage with renewed faith, gratitude to Almighty Allah and a strengthened resolve to pursue his administration’s Renewed Hope Agenda.
Onanuga said Tinubu remained committed to translating Nigerians’ aspirations into tangible improvements in living conditions and building a better country for all. Nigerianews subscription
The presidential delegation included the National Security Adviser, Mallam Nuhu Ribadu, and the governors of Sokoto, Jigawa, Kaduna, Borno and Yobe states, among other senior government officials.
The President’s return concludes a visit that combined religious observances with prayers for national stability, improved security and the success of ongoing efforts to reposition Nigeria for sustainable growth and development.
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AFAN Calls on FG to Revive MAGS-AP, Seeks Affordable Farm Inputs for Nigerian Farmers
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The All Farmers Association of Nigeria (AFAN) has called on the Federal Government to urgently restore the National Agricultural Growth Scheme and Agro-Pocket (NAGS-AP) programme to improve farmers’ access to affordable agricultural inputs and strengthen food production across the country.
The association said the revival of the programme would provide farmers with better access to essential agricultural inputs, including fertilisers, improved seeds and other farm support services required to boost productivity and ensure food security.
AFAN noted that the rising cost of agricultural inputs has continued to place enormous pressure on farmers, particularly smallholder farmers, who play a critical role in Nigeria’s agricultural value chain.
According to the association, restoring the programme would help reduce the financial burden on farmers, encourage increased participation in agricultural production and support the Federal Government’s efforts to achieve food security under its agricultural transformation agenda.
The association further stressed that affordable and timely access to farm inputs remains essential to improving crop yields, expanding agricultural activities and making farming more attractive to young Nigerians.
AFAN also urged the Federal Government to strengthen collaboration with relevant agricultural institutions, state governments, financial institutions and private-sector stakeholders to ensure that farmers benefit directly from government intervention programmes.
It maintained that a sustainable agricultural sector requires consistent policies, adequate funding and effective implementation of programmes designed to support farmers at every stage of production.
The association expressed optimism that restoring NAGS-AP would contribute significantly to increased food production, job creation, rural economic development and the stabilisation of food prices across the country.
AFAN therefore appealed to the Federal Government to give the programme urgent attention as part of broader efforts to strengthen Nigeria’s agricultural sector and achieve sustainable food security.
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Zamfara Signs MoU with REA, Stakeholders to Boost Renewable Energy
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…….Tegbe, REA MD Commend Lawal as Zamfara Unveils Electricity Policy today
The Minister of Power, Chief Joseph Olasunkanmi Tegbe, and the Managing Director/Chief Executive Officer of the Rural Electrification Agency (REA), Dr. Abba Abubakar Aliyu, have joined the Zamfara State Governor, Dauda Lawal, to launch the state’s Electricity Policy and inaugurate renewable energy projects aimed at enhancing electricity supply across the state.
The event, held on Wednesday, November 4, 2026, in Zamfara State, was themed “Enhancing Power Supply” and attracted key stakeholders in the electricity and renewable energy sectors.
A major highlight of the occasion was the signing of a Memorandum of Understanding (MoU) between the Zamfara State Government, the Rural Electrification Agency and other stakeholders, in the presence of the Minister of Power, to strengthen collaboration and accelerate the development of renewable energy infrastructure in the state.
Speaking at the event, Tegbe and the REA Managing Director emphasised the importance of renewable energy, particularly solar power generation, as a sustainable solution to the country’s electricity challenges.
They highlighted the need to harness Zamfara State’s abundant solar energy potential to expand electricity access, strengthen power generation capacity and provide reliable and affordable electricity to residents, businesses and industries.
The officials also commended Governor Dauda Lawal for his commitment and initiative towards developing solar-powered electricity infrastructure, describing the state’s efforts as a significant step towards achieving sustainable energy development and improving the living conditions of the people.
They further highlighted the ambition to upgrade solar power generation capacity to 200 megawatts (MW), noting that increased investment in renewable energy would contribute significantly to the state’s economic growth and development.
The Minister and the REA Managing Director also stressed the importance of collaboration between federal and state governments, development partners and private-sector investors in achieving sustainable electricity supply.
The launch of the Zamfara State Electricity Policy, alongside the inauguration of renewable energy projects and the signing of the MoU, represents a significant step in the state’s efforts to strengthen its electricity sector and embrace cleaner and more sustainable energy sources.
The initiative is expected to improve electricity access, stimulate commercial and industrial activities, attract investment, create employment opportunities and support socio-economic development across Zamfara State.
The development also aligns with the Federal Government’s commitment to expanding electricity access and accelerating Nigeria’s transition towards sustainable and renewable energy.
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