WED JUNE 11 2025-theGBJournal| The Federal Government said today that no final decision has been announced by the Government on forward sale of crude oil involving the Nigerian National Petroleum Company Limited (NNPC Ltd), and commentary suggesting the collapse of any such initiative is unfounded.
The Federal Government’s statement contained in a release signed by Mohammed Manga, Director, Information and Public Relations at the Federal Ministry of Finance, is reponse to recent media reports suggesting the initiative has collapsed.
”While market speculation is not uncommon in the context of ongoing economic reforms and transactions, no final decision has been announced by the Government, and commentary suggesting the collapse of any such initiative is unfounded,” FG said in the statement.
The NNPC Ltd has signed 11 deals, and executed forward crude oil sale agreement of about $21.565 billion since 2019.
Meanwhile, the Federal Government said it 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.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
