The Nigeria Export Processing Zones Authority (NEPZA), the One-Stop-Shop Committee on the Sale of Crude in Naira, and the Dangote Refinery & Petrochemicals Free Zone Enterprises have jointly pledged to comply with the presidential directive on reducing domestic petroleum product prices.
This move aims to boost national energy security and accelerate economic growth. During a courtesy visit to NEPZA's Managing Director, Dr. Olufemi Ogunyemi, the stakeholders agreed to align their operations to execute the new energy policy directive.
Dr. Ogunyemi expressed confidence in the president's vision and affirmed NEPZA's willingness to collaborate with the committee.
The Dangote Refinery, which operates under the Free Trade Zone Scheme, has received 480 vessels and commenced full operations, producing petroleum products for local and export markets. The sale of crude in naira is expected to eliminate the local currency's vulnerability to dollar fluctuations.
The committee's coordinator, Ms. Maureen Ogbonna, described the initiative as a key intervention to reposition the economy. The Dangote Refinery's representative, Mr. Akinsanya Mobolarin, reaffirmed Aliko Dangote's commitment to national development, stating that the policy will drive substantial growth in Nigeria's energy and industrial sectors.
The stakeholders have pledged to maintain synergy in executing the presidential directive and achieving sustainable energy affordability for all Nigerians.
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