The Federal Government has debunked reports suggesting the
collapse of a proposed forward crude oil sale involving the Nigerian National
Petroleum Company Limited, NNPCL.
This was as the government stated that no final decision has
been made on the matter.
According to a statement by the Director of Information and
Public Relations at the Federal Ministry of Finance, Mohammed Manga, on
Wednesday in Abuja, the government said it was aware of recent media
speculation surrounding the deal, stressing that such commentary is premature
and inaccurate.
“While market speculation is not uncommon in the context of
ongoing economic reforms and transactions, no final decision has been announced
by the Government.
“Commentary suggesting the collapse of any such initiative
is unfounded,” the statement read.
The statement maintained that the forward sale of crude
oil-an arrangement often used to secure financing by pledging future oil production-remains
under consideration as part of a broader strategy to stabilise Nigeria’s
economy.
“The government remains focused on deploying a range of
innovative, transparent, and fiscally responsible financing strategies to
optimise Nigeria’s oil assets, improve external liquidity, and strengthen
macroeconomic stability,” Manga said.
The Federal Government expresssed its commitment to
deploying innovative, transparent, and fiscally responsible financing
strategies to optimize Nigeria’s oil assets, improve external liquidity, and
strengthen macroeconomic stability.
The move is said to be part of the government’s ongoing
economic reforms aimed at promoting economic growth and development.
The Finance Ministry also reassured stakeholders that any
decisions regarding forward crude oil sales will be made with careful
consideration and transparency.
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