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.
Federal Ministry of Finance gave the assurance on its official X handle.
The Ministry stated that the initiative, first approved by the Federal Executive Council (FEC), was 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 Ministry explained that the policy was structured to foster energy security and encourage investment in domestic refining infrastructure.
While acknowledging that the transition involves complexities, the government admitted that existing challenges were being systematically addressed.
