Abuja, Aug. 16, 2024 -The Federal Government inaugurated a Technical Sub-committee to develop a framework for the sale of crude oil to local refineries.
Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, inaugurated the committee in Abuja on Thursday.
He said the initiative was part of a broader strategy to position Nigeria as a refining hub and revolutionise the energy sector by reducing reliance on crude oil exports and fostering local expertise.
The committee members are the Minister of Finance, Wale Edun, the Permanent Secretary of the Federal Ministry of Finance, Mrs Lydia Shehu Jafiya and the Chief Executive of the Federal Inland Revenue Service, FIRS, Dr Zacch Adedeji.
Others are the Nigerian National Petroleum Corporation Limited, Central Bank of Nigeria, Afrexim Bank, and Nigerian Upstream Petroleum Regulatory Commission.
