The Federal Government, under the leadership of Mr. Wale Edun, the Honourable Minister of Finance and Coordinating Minister of the Economy, is set to launch Naira payments for crude oil sales to the Dangote Refinery starting October 1, 2024. During an Implementation Committee meeting today, progress on key initiatives was reviewed, including preparations for the first PMS delivery from the Dangote Refinery next month.
Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service and Chairman of the Technical Sub-Committee, highlighted the roles of key stakeholders like the Central Bank of Nigeria, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, and the African Export-Import Bank in ensuring smooth execution. Significant production boosts are anticipated from the Port Harcourt and Dangote Refineries by November 2024. The Minister also stressed the importance of transparency and directed that a detailed report be prepared for the President to ensure all directives are on track for
