President Bola Tinubu has unveiled plans to sell Nigeria’s crude oil in naira to reduce forex risks, strengthen the local currency, and stabilize the economy.
Speaking at the 8th Nigeria International Energy Summit (NIES 2025) in Abuja, Tinubu, represented by Minister of State for Finance Dr. Doris Uzoka-Anite, said the policy aims to boost local refineries, lower fuel prices, and enhance energy security.
Key initiatives include major gas infrastructure projects like the Ajaokuta-Kaduna-Kano Gas Pipeline, tax reforms to attract investment, and a proposed hydrogen energy policy. With the Port Harcourt and Warri refineries set to commence operations, fuel costs are expected to decline.
