Senate committee on finance chair hails Tinubu over crude oil sales to Dangote Refinery
![Dangote refinery](https://i1.wp.com/gazettengr.com/wp-content/uploads/Screenshot_20220403-182258_Facebook.jpg)
Chairman, Senate Committee on Finance, Sani Musa, has commended President Bola Tinubu for approving the sale of crude oil to Dangote Refinery and other local refineries.
He said in Kano on Tuesday that the strategic move was a milestone in the nation’s journey toward economic self-sufficiency and stability.
Mr Musa said, “I would like to commend President Bola Ahmed Tinubu, GCFR, for his forward-thinking and impactful decision to approve the sale of crude oil to local refineries in Nigeria using the naira. By allowing transactions in our local currency, this policy not only strengthens the naira but also reduces our dependency on foreign exchange. This will likely lead to increased efficiency within our local refineries, boost domestic production and ensure a more consistent and affordable supply of refined petroleum products for all Nigerians.’’
He expressed hope that the move would enable the NNPC Ltd, Dangote Refinery and all domestic producers to seize the opportunity to make their business decisions.
Mr Musa said that the decision would reflect on production, affordability, sustainability and quality for the good of the country.
He also said the decision would echo a deep commitment to fostering national growth, supporting local industries, and ensuring that wealth generated from the nation’s natural resources benefited the economy directly.
“It is a testament to Mr President’s visionary leadership and dedication to the prosperity of our country. I applaud this initiative and look forward to witnessing the positive impact it will undoubtedly have on our nation’s economic landscape. Thank you, Mr President, for your continued efforts to advance Nigeria’s economic independence and development,” Mr Musa said.
Recall that the Presidency on Monday announced that Mr Tinubu had approved the sale of crude to Dangote Refinery and other local refineries.
“To ensure the stability of the pump price of refined fuel and the dollar-naira exchange rate, the Federal Executive Council today adopted a proposal by President Tinubu to sell crude to Dangote Refinery and other upcoming refineries in naira,’’ Bayo Onanuga, Tinubu’s aide on Information and Strategic said on his verified X (formerly Twitter) account .
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
![Katsina State](https://i1.wp.com/gazettengr.com/wp-content/uploads/1863B29B-AC06-49E0-ADFA-655BBEC3389A.jpeg)
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
![Bayelsa State governor, Douye Diri](https://i1.wp.com/gazettengr.com/wp-content/uploads/Bayelsa-State-governor-Douye-Diri-1-1.png)
States
Bayelsa orders LG chairmen to constitute teams against oil theft
The governor said the issue of oil theft and oil bunkering were of serious concern in our local government areas.
![](https://i1.wp.com/gazettengr.com/wp-content/uploads/Screenshot_20240730-174153_Chrome.jpg)
States
Constituents threaten recall of Ondo federal lawmaker over alleged non-performance
The constituents recalled that the last time they were empowered was during the tenure of Omolafe Adedayo, who also represented the constituency.
![President Bola Tinubu (Credit: Presidency)](https://i1.wp.com/gazettengr.com/wp-content/uploads/Screenshot_20240720-211628_Photos.jpg)
NationWide
Nigerians won’t protest if Tinubu tackles hunger, insecurity: Catholic Church
The clerics also called on the governments to be proactive
![Courtroom](https://i1.wp.com/gazettengr.com/wp-content/uploads/images-2024-04-22T124339.223.jpeg)
States
Court remands man over alleged N9 million fraud in Benue
Ms Ikpe adjourned the case until September 5 for further mention.
![Lagos market](https://i1.wp.com/gazettengr.com/wp-content/uploads/WhatsApp-Image-2023-03-17-at-07.13.15.jpeg)
Lagos
‘Are you the only hungry ones?’ Lagos government unleashes thugs on Lagosians, threatens residents on joining protest
The thugs said, “Are you the only one hungry.’’
![Ayodele Sonubi](https://i1.wp.com/gazettengr.com/wp-content/uploads/Screenshot_20240719-221246_Chrome.jpg)
States
Protest: Soldiers, police, SSS, others in joint show of force in Ibadan
Mr Sonubi said that the show of force was also to ensure that the state remained peaceful.