In a bid to bolster the Nigerian currency and minimize reliance on foreign exchange for local transactions, the Federal Government has unveiled plans to commence the sale of crude oil in naira to Dangote Refinery and other domestic buyers starting from October.
This strategic move was announced following the inaugural meeting of the implementation committee, chaired by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy.
The committee is responsible for expediting the process. Mohammed Manga, Director of Press and Public Relations at the Federal Ministry of Finance and Economic Planning, confirmed the decision, marking a significant step towards enhancing the value of the naira.
“The Minister presided over a crucial meeting of the implementation committee on crude oil sales in Naira today.
“It is a significant step towards ensuring the speedy realisation of the presidential directive on crude oil sales in naira to enhance Nigeria’s economic growth and development.”
Gaius Otutu is the owner of GistsNaija, which was launched in 2012.
Gaius Otutu is a prominent Nigerian businessperson who has made a name for himself in the world of entrepreneurship. Born and raised in Delta State, Nigeria, into a family of 6, with his Siblings Blessing, Favour, Henry. Gaius has always had a keen eye for business opportunities and a strong desire to make a positive impact on his community. He started his entrepreneurial journey at a young age and has since become a highly successful and well-respected figure in the Nigerian business world.
Gaius passion for business was evident from an early age, as he was always looking for ways to make money and create opportunities for himself. He started his first business while still in secondary school, and it was clear from the beginning that he had a natural talent for entrepreneurship. After completing his education, Gaius fully dedicated himself to building his career and making his mark in the business world.
One of Gaius most notable ventures is GistsNaija, a leading Nigerian entertainment and news website that he founded in 2016. GistsNaija has grown to become one of the most popular and trusted websites in Nigeria, attracting millions of visitors each month. The platform provides a wide range of content, including Movies, music, news, and entertainment, and has become a go-to source for many Nigerians seeking the latest updates and information.
In addition to GistsNaija, Gaius has also ventured into other business areas, including Tech and real estate. His keen eye for spotting emerging trends and his ability to connect with his target audience have been key to his success in these ventures. Gaius has demonstrated an impressive understanding of consumer behavior and market dynamics, allowing him to build thriving businesses that meet the needs and desires of his customers.
on 20 August, 2024 | 
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